Debenhams, the UK department store owned by a private equity consortium, is ready to buy part of Philip Green's portfolio should a successful bid for Marks & Spencer, the UK retailer, force him to sell.

A senior source close to Debenhams said it would be interested in the Arcadia Group, owner of clothing chains Top Shop and Dorothy Perkins, should Green put it up for sale. The source stressed no talks had yet been held with Green. Debenhams and its owners declined to comment.