Debenhams remains in hands of lenders after failed sale process

debenhams canterbury

Debenhams’ sale process ended yesterday with no acceptable bids received as the department store’s creditors, investor consortium Celine, confirmed its commitment to the business.

Celine took control of Debenhams following a pre-pack administration in early April after a protracted battle with Sports Direct founder Mike Ashley, who was vying to take over the department store business.

A for-sale sign was hoisted over Debenhams by Celine but administrators determined that bids received were “not at the level required to be taken forward”.

Celine chief restructuring officer Stefaan Vansteenkiste said: “The investor consortium is a committed long-term owner, which has provided Debenhams with £200m in fresh funding for the financial restructuring process and to fund the company’s operating turnaround.

Subscription content

Please sign in now if you have a subscription

Retail Week

Register to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • 3 free articles a month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.