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Debenhams: 'Mike Ashley saw an opportunity'

13 January 2014 Last updated at 14:05 GMT

Sports Direct, the retailer run by billionaire Newcastle United owner Mike Ashley, has bought 4.6% of Debenhams.

Speaking to the BBC, George MacDonald from Retail Week said that because Debenhams's has had a terrible Christmas "everybody will be watching what Mike Ashley can bring to the party".

Sports Direct is now Debenhams's 8th largest shareholder.