The former chief executive of UK fashion giant Arcadia Group, Stuart Rose, is in line to be the new non-executive chairman of department store chain Debenhams, it was revealed on Wednesday.

Venture capitalists Permira Advisers Ltd, which last month bid £1.5 billion for the operator of around 100 stores, said it has secured Rose's agreement in principle should its offer be successful.

Rose was chief executive of Arcadia between November 2000 and December 2002 when it was taken over by billionaire Philip Green.

Permira also said former Arcadia executive Charles Wilson has agreed to join the board of Debenhams as a non-executive director should its offer prove successful.