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Mike Ashley in Debenhams rescue talks amid fears chain could disappear by end of the month

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Mike Ashley is in talks to save Debenhams, a week after the business announced it is on the brink of liquidation. But, the retail tycoon’s Frasers Group has warned that unless talks can be concluded quickly, it may not be able to save Debenhams' UK business.

Frasers confirmed it is in negotiations with the department store's administrators about a possible rescue deal which it hopes can save at least some of the 12,000 jobs that have been put at risk by the retailer's potential liquidation.However, there are complications, and if a deal is not agreed quickly, Frasers said it may not go ahead. "Whilst Frasers Group hopes that a rescue package can be put in place and jobs saved, time is short and the position is further complicated by the.

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