Debenhams looks at expansion

Debenhams, which could be set for a return to the stock market with a flotation valuing it at more than £3 billion, is considering stepping up ambitious expansion plans.

The department store chain last week invited four banks to canvass investors to see if there is an appetite for a float. Now, if the plans go ahead, it could be set to double its size. According to a company source, chief executive Rob Templeman believes the main chain has the potential to be twice its current size of 120 stores, and the new 'Desire' format - a smaller store aimed at women - has also been earmarked for up to 130 market towns.