Debenhams parent company Celine teeters on brink

Debenhams jpg

Debenhams’ parent company has drafted in advisers as it prepares to enter administration, just months after the department store chain collapsed for the second time in a year.

Celine, the group controlled by Debenhams’ lenders, only took control in April last year when the retailer tumbled into administration for the first time.

Celine, which is the issuing entity of £200m Debenhams notes due in 2021, has called in advisers from FRP Advisory, according to The Telegraph

Its potential administration would not impact Debenhams sales, staff, customers or suppliers, sources insisted.

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