Debenhams has said it will give any firm takeover offer from Mike Ashley's Sports Direct "due consideration" but said it would continue with emergency funding plans.
Sports Direct said after market close on Monday it was considering making an offer to buy Debenhams to save the beleaguered department store chain.
Debenhams said given the "timetable associated with any public offer", a bid from Sports Direct would not address its immediate financing needs.
READ MORE: Glasgow-based shopping centres firm hit by World Cup and weather
It confirmed Sports Direct now has until 5pm on April 22 to announce a firm intention to make a bid or walk away, under City takeover rules.
Debenhams shares rose more than 30 per cent in morning trading, reaching as high as 2.2p soon after opening, and Sports Direct was up about 1%.
Irn-Bru maker AG Barr has posted a year of rising sales as it shrugged off the sugar tax and a host of other challenges.
Revenue grew by 5.6 per cent to £279 million at the Scottish soft drinks firm, which also makes Rubicon and Tizer.
The company posted a pre-tax profit of £44.5m for the year to January 26, down from £44.9m.
The figure takes into account a one-off pension service charge of £700,000.
Stripping out exceptional items, profits were up 2.5% to £45.2 million.
AG Barr said the results were "all the more pleasing" given the Government's sugar levy, which has hit the entire soft drinks industry.
READ MORE: Sharp rise in price of a hotel room in Glasgow
It also had to contend with carbon dioxide shortages during the summer heatwave, the Beast from the East snow disruption, and a number of business failures and ongoing customer credit risks.
Moss Bros has swung to a full year loss after being hit by stock shortages, extreme weather and discounting.
The menswear retailer booked a £4.2 million loss for the 52 weeks to January 26, which compares to a profit of £6.7m in a year earlier.
Revenues were also down 2.1 per cent at £129m and like for sale dropped 4.3%.
Shares in Moss Bros fell nearly 6% to 22.5p in morning trade.
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