Apr 3, 2020
Coronavirus: Debenhams set to appoint administrators
The retailer is set to appoint administrators as early next week to protect the company against claims from creditors as it tries to restructure its business. Debenhams has already closed 22 stores this year and plans to shut a further 28 in 2021. Like much of the rest of the High Street, Debenhams 142 stores are closed. "A Debenhams spokesperson said:"Like all retailers, Debenhams is making contingency plans reflecting the extraordinary current circumstances. Last April, Debenhams fell into the hands of its lenders, comprising a group of banks and hedge funds led by US firm Silver Point Capital, after struggling for years to keep up with competition from rivals.
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