Jon Asgeir Johannesson, the Icelandic entrepreneur who has stakes in many of Britain’s best-known retailers, has hinted that he is considering a bid for Debenhams. Daily Telegraph

The news came as Johannesson announced plans to give around £150m to charity over the next decade and make Baugur one of the UK’s first carbon-free retail chains.

He said: ‘We have a £600m war chest which we will use to support our brands and to seek further opportunities in the coming year.

‘Debenhams could be a good opportunity, especially as we are playing in the department store world. A decision will be made on the opportunity, or if it will arise.’