Latest World News
Stefaan Vansteenkiste is set to become the new chief executive at Debenhams. This follows chairman Terry Duddy decision to step down in September. Mr Vansteenkiste joined Debenhams in April as a chief restructuring officer, he has been working with a team on new business plans to deliver a turnaround. Mr Vansteenkiste said: “The retail industry faces…
The owner of the Lakeside and Trafford Centre shopping centres, Intu, has cut its predictions for rental income. Intu said 2019 would be challenging due to a rise in rescue deals as stores are struggling to pay their rent. It added that retailers were also delaying signing any new leases due uncertainty in “political and retail”….
Debenhams has named 22 of the stores it plans to close as part of their new plan by the new owners. The retailer says the store closures will begin next year and 1,200 staff will be affected by the first phase. Earlier this month lenders to Debenhams took control in a deal which wiped out…
Debenhams boss Sergio Bucher has stepped down following the takeover of the struggling department store by its lenders. The retailer was taken over earlier this month as part of an administration process. Mr Bucher’s departure had been signalled over the weekend and he has just announced he is stepping down, adding “it is time to…
Debenhams is at risk of falling into the hands of its lenders in a move that will clean out shareholders after the company and its financial backers reject a £150 million cash offer from Mike Ashley’s Sports Direct. A pre-pack administration deal is expected to be announced on Tuesday morning that would affect Debenhams’ holding…
Debenhams have secured a cash injection of £40 million to buy it extra time as it battles to secure a long-term deal. The department store has called it a “first step” towards a sustainable future. The firm issued three profit warnings last year and is taking with lenders over renegotiating its debts. It is expected…
bethkent ✅