Can Mike Ashley save debt-laden Debenhams?

Mike must decide, by Monday, whether to make a formal bid for the debt-laden department store chain, Debenhams.

The billionaire owner of Sports Direct and Newcastle United already has a big stake in the group and has been talking about buying it out and making himself its chief executive.

Debenham's managers say that if he wants the firm, he must also put up hundreds of millions of pounds to refinance its debts. Mike Ashley recently bought out another troubled department store group, House of Fraser. But can he be the saviour Debenhams needs?

Video journalist: Jeremy Howell