Mar 22, 2019
Debenhams seeks £200m in new funds
PA Struggling department store chain Debenhams says it is seeking a cash injection of up to £200m from existing lenders as it tries to fend off Sports Direct's Mike Ashley. Debenhams said the move would "Provide liquidity headroom" and "Deliver stability" for customers and staff. Last week, it confirmed it had offered a £150m loan to Debenhams as part of a deal that would make Mr Ashley chief executive. Sports Direct also wants to remove all the current members of the Debenhams board except one. Debenhams said its appeal to lenders "Would allow the company to enter into new money facilities and give Debenhams the ability to pursue restructuring options to secure the future of the business".
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