Debenhams has filed a notice of intention to appoint administrators in a bid to protect the business from liquidation.
The department store retailer has said the move will protect its 142-strong store estate “from the threat of legal action that could have the effect of pushing the business into liquidation”, with FRP Advisory appointed to advise on the process.
Debenhams has described the process as a “light-touch” administration wherein existing management will remain in their roles under the supervision of administrators. The department store’s online operations will continue as normal and the retailer plans to resume trading from its stores once government restrictions are lifted.
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