Jul 15, 2018
Debenhams denies cash crunch problem
Debenhams has said its cash position is "Healthy" after reports some insurers have reduced cover for its suppliers. The Sunday Times said the retailer was facing "a cash crunch" because some credit insurers had tightened their terms for Debenhams suppliers. One major credit insurer, Euler Hermes, is understood to have reduced the amount of credit insurance it will provide to Debenhams' suppliers for orders for the new season. Debenhams acknowledged market conditions were "Challenging" but said it had "a clear strategy in place" and was taking "Decisive actions to strengthen the business". Chief executive Sergio Bucher, who joined Debenhams in 2016, aims to put more emphasis on food and beauty and improve the firm's online platform.
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