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Mike Ashley’s Frasers Group (LON:FRAS) has been given two days’ time till Wednesday to make a commitment for the ailing retailer Debenhams or walk away. Ashley, the potential suiter of Debenhams had offered £125 million ($162million) and is looking to convert some of the Debenhams stores into Sports Direct or Flannels shops.
Rolls-Royce Holdings Plc to temporarily close factories, reduce hours of working The British aero-engine maker and engineering giant Rolls-Royce Holdings Plc (LON: RR.), as part of its cost-cutting measures, is reportedly going to close factories, reduce hours of working and cut benefits. The company is planning to cut management costs by a third though it has said that there is no new job cut plans other than the previously announced.
* Shoe retailer Clarks enters a negotiation with its landlords Shoe retailer Clarks has entered negotiations with its landlords over store closures and rental agreements. The high street footwear retailer is looking to shore up its finances, and the board of directors is reviewing all options to best position the business, people, and the brand for future long-term growth.
