FTSE LIVE: Debenhams rejects new £200m Sports Direct offer; Cake Box sales rise

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FTSE CLOSE: Pound at $1.30 as May meets Merkel over Brexit; Debenhams slides into administration; US reveals plan for tariffs on $11bn of EU goods

  • The FTSE 100 closed down 26.32 points at 7425.57 
  • Debenhams crashed into administration after Ashley offer was rejected
  • Cake Box said it expects to serve up a 30 per cent rise in full-year sales 

By Emily Hardy For This Is Money

Published: | Updated:

The FTSE 100 closed down 26.32 points at 7425.57 and the pound was at $1.30 against the dollar.

Mike Ashley’s Sports Direct made a revised £200million rescue offer for Debenhams, but the department store chain said the proposal was ‘not sufficient’. It has now entered administration.

Newly listed sweet treats chain Cake Box said it expects to serve up a 30 per cent rise in full-year sales thanks to new store openings. 

 

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