Feb 11, 2019
Debenhams secures cash injection as it battles for survival
Debenhams is understood to have secured a cash injection of around £40m to buy it extra time as it battles to secure a longer term deal with lenders. Debenhams is also trying to accelerate plans to close stores, and is expected to close around 20 stores this year. Debenhams announced last year that it would close up to 50 stores within three to five years, putting 4,000 jobs at risk. Debenhams has 165 stores and employs around 25,000 people. Debenhams reported a record pre-tax loss of £491.5m last year and more recently said sales had fallen sharply over Christmas.
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