Debenhams boss reassures staff amid Sports Direct results fiasco
Debenhams executive chairman Terry Duddy has told staff that speculation about an administration is “misplaced” and that attempts involving Sports Direct to derail a turnaround will not divert its strategy.
Duddy emailed Debenhams’ employees last night in anticipation of results from Sports Direct, owner of rival department store business House of Fraser, this morning - although the results have yet to materialise and Sports Direct has become embroiled in a reporting fiaco.
Sports Direct is funding an attempt to challenge Debenhams’ recent CVA while the scale of likely losses at House of Fraser is expected to once again raise questions over the future of the department store model.
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