The retailer is understood to have appointed investment bank Lazard as it explores a number of options for its future –including a search for a new owner.
Morrisons shoppers ‘disgusted’ to find bags of 'wet eggs' in supermarketDebenhams confirmed in its April 9 press release: "CEO Stefaan Vansteenkiste said he anticipated the firm's owners and lenders would make additional funding available to fund the administration period.Debenhams said it expected administrators to appoint a liquidator to the 11-store Irish operation. Companies House does not verify the accuracy of the information filed
Today, 6 May 2020, the Court of Appeal, In the Matter of Debenhams Retail Limited (in administration) [2020] EWCA Civ 600 published its reasons for upholding a first instance decision, that the administrators of Debenhams had adopted the employment contracts of 13,056 employees who are the subject of the Job Retention Scheme (the Scheme). Debenhams' website is still running despite the closure of its stores during the coronavirus pandemic in the UK"The group has entered administration to protect Debenhams in the UK from the threat of legal Debenhams went into administration for the second time in 12 months, on April 9, 2020.Regrettably, due to the challenges facing Debenhams Retail (Ireland) Ltd the directorshe group is making preparations to resume trading its stores once government restrictions are lifted," Debenhams' bosses said. They therefore sought a direction whereby they could implement the JRS without formally adopting the employees’ contracts of employment. Sources close to the company have described the decision as ‘contingency planning’ as the pandemic leaves a trail of devastation on the high street.No new store closures are currently planned after 19 were shut in January this year, with 28 more set to follow.Brits 'held against their will' in Italy after testing positive for coronavirusGirl, 14, found dead after she went missing after schoolDebenhams formally entered administration in April for the second time in 12 months, having struggled before the pandemic.Major incident declared after huge spike in cases over last two weeksMassive surge in cases sparks major incident in North Yorkshire On 15 April 2020, two days after Snowden J handed down his judgment in Re Carluccio’s Ltd … 26 Mar 2004 -
47721 - Retail sale of footwear in specialised stores 28 Jun 2005 Absolutely the best and most reliable single source of what’s going on that affects our business. The parent company of Debenhams has appointed advisers at FRP to work on its own administration. No new store closures are … 04 Dec 1997 consumer rights expert, said: “Debenhams has long been a staple of the British high street, so this move amid the coronavirus crisis is another shock for the high-street.Debenhams is currently holding an online sale, offering up to 30 per cent discount off selected home and fashion lines.department store group announces that Geoff Rowley About 950 are employed in Debenhams' Ireland operation, with a further 300 working for in-store concession partners.
A spokesman for the department store said: “Debenhams is trading strongly, with 124 stores reopened and a healthy cash position. File for this company "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. DEBENHAMS RETAIL PLC The viability of the Administrators’ plans to rescue Debenhams hung on the outcome, since the furloughed employees were an integral part of the rescue plan but, if their contracts were adopted so that the relevant liabilities attracted the super-priority under para 99 of Schedule B1, that plan would not be economically viable: the Administrators estimated that, if the liabilities under the contracts of employment in question attracted super-priority, this could result in an additional burden of over £3 million a month.