According to The Times and Retail Gazette, Debenhams of the UK is again considering the sale of Magasin du Nord in Denmark. Debenhams has owned Magasin since 2009 and there have been reports of a sale before. The auction is currently being handled by investment bank Lazard and law firm Freshfields Bruckhaus Deringer. The Times report suggests that any proceeds from the sale, which is estimated at between £ 150 m and £ 200 m, would go straight to Celine, the consortium of hedge funds that owns Debenhams rather than to the UK department store which is under administration. Magasin’s stores are generally agreed to be trading ahead of expectations. Debenhams, which currently trades from 124 stores in the UK and 45 sites across 17 countries, has been the subject of speculation about takeovers. But nothing specific has yet been confirmed.