04-07-2020, 05:01 PM
https://www.independent.co.uk/news/busin...49241.html
Debenhams announced it will file for administration as figures showed the extent to which Britain’s economy is suffering during the coronavirus pandemic.
The struggling department store chain, which employs 22,000 people, will bring in administrators to try to protect itself from legal action that could bring about the company’s collapse.
Debenhams faced being chased by suppliers and other creditors who have not been paid as a result of the coronavirus pandemic. Debenhams said it was preparing for all of its stores to reopen once the coronavirus lockdown conditions are eased by the government.
The company said in a statement: “This move will protect Debenhams from the threat of legal action that could have the effect of pushing the business into liquidation while its 142 UK stores remain closed in line with the government’s current advice regarding the covid-19 pandemic.”
Sad to hear . I had heard that they'd been in trouble before; it was less than a year ago that lenders stepped in to save them. Seems that nothing could prepare them for COVID-19, though - and it's hard to imagine there being a second last-minute rescue...
Assuming there's no miracle, I wish all their employees good luck finding a new career.
Debenhams announced it will file for administration as figures showed the extent to which Britain’s economy is suffering during the coronavirus pandemic.
The struggling department store chain, which employs 22,000 people, will bring in administrators to try to protect itself from legal action that could bring about the company’s collapse.
Debenhams faced being chased by suppliers and other creditors who have not been paid as a result of the coronavirus pandemic. Debenhams said it was preparing for all of its stores to reopen once the coronavirus lockdown conditions are eased by the government.
The company said in a statement: “This move will protect Debenhams from the threat of legal action that could have the effect of pushing the business into liquidation while its 142 UK stores remain closed in line with the government’s current advice regarding the covid-19 pandemic.”
Sad to hear . I had heard that they'd been in trouble before; it was less than a year ago that lenders stepped in to save them. Seems that nothing could prepare them for COVID-19, though - and it's hard to imagine there being a second last-minute rescue...
Assuming there's no miracle, I wish all their employees good luck finding a new career.
Board Information and Policies
Affiliation | Coffee Credits | Ranks and Awards | Name Changes
Account Deletion | BBCode Reference
Moonface (in 'Woman runs 49 red lights in ex's car')' Wrote: If only she had ran another 20 lights.
(Thanks to Nilla for the avatar, and Detective Osprey for the sig!)
My Items