Will Debenhams chairman join Tchenguiz consortium?
The bid consortium circling grocer Somerfield has signed up Debenhams chairman John Lovering as a potential chairman, it is understood.

Lovering (pictured) has built a strong reputation with private equity houses and made a 120p share bid for Somerfield in 2003. If the consortium's bid is successful, he will replace existing chairman John Von Spreckelsen.

Private equity firms Apax and Barclays Capital, together with property magnate Robert Tchenguiz, make up the last remaining suitor for the grocer. The consortium has until tomorrow to launch a bid.

London & Regional Properties, owned by the Livingstone brothers, pulled out of the race last week.

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