Apr 6, 2020
Debenhams: store of no value
Debenhams is trying not to be one of the first casualties. Existing Debenhams equity holders were wiped out and a subsequent insolvency arrangement with landlords slashed rents by half. Debenhams claims that Mr Ashley wanted to ward off any competition to his own struggling department store House of Fraser. The return to administration by Debenhams will stop further hostile action for now. Reductions to keep the most profitable Debenhams stores is a gamble that could well work.
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