Shares in department store group Debenhams jumped on Monday after the retailer received a second takeover approach to rival one of £1.5 billion already on the table.

Private equity groups CVC Capital Partners and Texas Pacific are reported to be behind the latest takeover bid. Earlier this month, private equity firm Permira offered 425p a share for the operator of 102 stores.

In a short statement Debenhams said full information and access to management is being provided to the new bidders.

It added: "These discussions are at an early stage and there can be no certainty that an offer will be made."

Debenhams is one of Britain's best-known retailers and last month posted a five per cent year-on-year rise in first half profit to £96.5 million.