Mike Ashley is going on another multi-million pound High Street spending spree as he continues legal efforts to broker Newcastle United's sale to the consortium backed by the Saudi PIF.
The Sunday Times reported Ashley had mounted an "eleventh hour" bid for Debenhams - and had also tabled a £900million bid for the Trafford Centre, the Manchester shopping centre.
Ashley's dogged pursuit of Debenhams has hit national headlines and as a shareholder he has made some caustic complaints about the board and process, complaining about valuation and how his offers have been treated.
But now the Sunday Times reports he is ready to mount a final bid that would value the chain at £200million and potentially save 19,000 jobs.
Fraser Group finance director Chris Wooton said: "We hope to be able to save as many jobs as possible.
"However, we have found that Debenhams has been overly reliant on Arcadia for many years, and with the administration of Arcadia last week, as well as no end in sight to the outdated business rates regime which unduly punishes the likes of Debenhams, it may be a bridge too far.”
Ashley's continuing moves in the High Street illustrate why he has been keen to sell Newcastle.
He has released several statements confirming his "commitment" to the £300million deal that was agreed in April and has launched legal action against the Premier League over the terms of its owners and directors test.
Ashley will use any money banked from the sale of Newcastle to tighten his grip on the High Street - and it is clearly where his interest lies while United tick along in the background.
The Newcastle owner is understood to be keen to proceed with the Newcastle deal in part because he sees potential future business opportunities in working with the Saudi PIF.
