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Debenhams wins £50m backing to fund peak trading
Department store group Debenhams has secured an additional £50m of funding that will enable it to trade at full-tilt over the vital Christmas period, Retail Week can reveal.
Debenhams raised the cash through various existing lenders on similar terms to the £200m provided in March this year, when creditors took control of the embattled retailer in the hope of enabling it to trade its way back to recovery.
Debenhams chief executive Stefaan Vansteenkiste said the funding would position Debenhams well over the golden quarter.
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