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Debenhams boss expected to step down now refinancing is in place

The boss of Debenhams, Sergio Bucher, is expected to step down, having played his role in refinancing the struggling department chain at the hands of its lenders. A source close to the Bucher has suggested that ‘having stayed on to get the refinancing in place,’ he thinks now would be …

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Mike Ashley labels Debenhams’ deal a “national scandal” as lenders plan to close 50 stores

Shop Direct owner Mike Ashley has labelled his defeat in the fight for ownership of the department store chain a ‘national scandal,’ as its new owners now draw up plans to close more than 50 stores. The plans, busy being drawn up last night, put at risk some 4,000 jobs …

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Control of Debenhams handed to lenders in latest turn for the department store chain

Control of the troubled UK retail chain Debenhams has fallen into the hands of lenders, the BBC has reported, but the store is continuing to trade. Details around the breaking story are still being uncovered, but it was reported earlier today that Debenhams was on the brink of administration, having …

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Debenhams will ‘consider any firm offer from Mike Ashley’ but continue with emergency funding plans

Struggling department store chain, Debenhams has stated it would consider any firm takeover offer from Mike Ashley’s Sports Direct, but will continue with its emergency funding plans. Ashley’s Sports Direct revealed after market close last night that it was considering making an offer to buy Debenhams. However, Debenhams stated that …

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Debenhams isn’t working on a CVA but store closures are coming

The company chairman, Sir Ian Cheshire has released a statement following reports that Debenhams was working with advisory firm KPMG on a company voluntary arrangement to enable it to exit unwanted properties and negotiate rent cuts across groups of stores.

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