Apr 14, 2019
Debenhams boss Sergio Bucher 'expected to step down'
Debenhams boss Sergio Bucher is expected to step down following the struggling department store chain's recent takeover by its lenders. The group of lenders that now owns Debenhams - including banks such as Barclays and US hedge funds such as Silver Point and Golden Tree - have provided the retailer with £200m in funding. Sports Direct founder Mr Ashley - who held a near 30% stake in Debenhams - made several offers to take it over. Mr Ashley subsequently described the Debenhams takeover as a "National scandal" and called for the administration process to be reversed. Debenhams is the biggest department store chain in the UK with 166 stores.
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