Debenhams, the department store chain, looked briefly at bidding for Moss Bros, the men’s wear retailer that has received a £40m indicative offer from Baugur, the Icelandic investment group.

The fact that Debenhams was prepared even to consider acquiring Moss Bros will provide some comfort to its family shareholders who have condemned Baugur’s 42p-a-share approach as significantly undervaluing the suits specialist.