Jul 16, 2018

Debenhams shares hit by insurance fears

Shares in department store chain Debenhams have fallen more than 5% following reports that 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. Suppliers use credit insurance to cover them from the risk of not being paid. Some new suppliers are believed to have found it difficult to get credit insurance for Debenhams' orders. 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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