Question:

Fill in the Blanks: The British retailer, M&S, today formally defeat in its attempt to King’s, its US subsidiary, since no potential purchasers were ready to cough up the necessary cash.

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Work out what M&S was trying to do with King's, given that no buyers came forward, and which verb describes giving up on that attempt.
Updated On: Nov 7, 2026
  • admitted, acquire
  • conceded, offload
  • announced, dispose
  • ratified, auction
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The Correct Option is B

Solution and Explanation

Step 1: Read the whole sentence first.
The retailer M&S tried to do something with its US subsidiary King's. It failed, because no buyer was ready to pay. So the second blank must be a word for getting rid of a business, and the first blank must be a word for accepting that the attempt failed.

Step 2: Decide what the first blank needs.
The phrase is "formally ____ defeat". A company that gives up in public says it has conceded or admitted defeat. "Ratified" means formally approved, as in a treaty, and it does not go with "defeat", so option (4) is out already.

Step 3: Decide what the second blank needs.
The reason given is "no potential purchasers were ready to cough up the necessary cash". Purchasers are buyers, so M&S was trying to sell King's. The verb must mean sell off or get rid of. "Offload" means exactly that: to sell or pass on something you no longer want.

Step 4: Check option (1): admitted, acquire.
"Admitted defeat" is fine, but "acquire" means to buy or gain. M&S already owned King's and wanted buyers for it, so acquiring it makes no sense. Option (1) is wrong.

Step 5: Check option (2): conceded, offload.
"Formally conceded defeat in its attempt to offload King's" reads smoothly and matches the meaning. Both words are used in their normal sense. Option (2) is right.

Step 6: Check option (3): announced, dispose.
"Announced defeat" is acceptable, but "dispose King's" is incomplete. The verb needs a preposition, as in "dispose of King's". Without "of" the phrase is not correct English, so option (3) fails.

Step 7: Check option (4): ratified, auction.
"Ratified defeat" is not a natural pairing, as explained in Step 2. Also, an auction needs bidders, and the sentence says there were no purchasers. Option (4) is wrong on both blanks.

Final Answer:
The first blank needs a word for accepting failure and the second a word for selling off, which is "conceded, offload". This is option (2). \[ \boxed{\text{Option (2): conceded, offload}} \]
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