Debenhams puts administrators on standby amid coronavirus disruption

Debenhams

Debenhams stakeholders are understood to be preparing to place the department store chain into administration as soon as next week.

The department store retailer, which employs 22,000 people, is understood to be preparing to file a notice of intention to appoint administrators in a bid to protect itself from creditors amid the coronavirus pandemic.

According to Sky News KPMG is among the accountancy firms that has been put on standby to handle the process, were it to go ahead.

The prospective move to appoint administrators has not yet been decided definitively, and it remains possible that another outcome could be reached by Debenhams shareholders.

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