Control of Debenhams has fallen into the hands of its lenders as part of a pre-pack administration process.

Mike Ashley's Sports Direct made a revised £200 million rescue offer for the chain store, but it was rejected.

Under Mr Ashley's latest proposal, Debenhams' lenders would have to agree to write off £82m of its £720m debt, and install the tycoon as chief executive.

But lenders to Debenhams said the latest proposal was not enough.

Debenhams said in a statement: "The board confirms that it received a revised, highly-conditional, proposal from Sports Direct in the early hours of April 9, which indicated a willingness of Sports Direct to underwrite an equity issue of £200m.

"The company's lenders have confirmed to the company that the proposal, on the terms set out, was not sufficient to justify an extension to the April 8 deadline."

Debenhams has 165 stores, which will initially continue to trade, although about 50 branches had already been earmarked for closure in the future.

It is not known if stores across Cumbria are affected as it has not released a list of which shops may be shut.

Pre-pack administration allows a company sell itself, or its assets, as a going concern, without affecting the operation of the business.