The bid by Permira, the private equity firm, for Debenhams, the UK department store chain, has been boosted by the promise of a high-profile retail executive to act as non-executive chairman.

Stuart Rose, former chief executive of Arcadia Group, has pledged his commitment alongside Charles Wilson, previously an executive director of Arcadia, who would join the board of Debenhams if the offer is accepted. The pledge comes after Permira made a £1.5bn (€2.4bn) offer for the retailer in May.