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Debenhams

  • Retail tycoon Mike Ashley ‘furious’ after being ‘frozen out’ of Debenhams sale

    November 1, 2020

    Retail mogul Mike Ashley is reportedly “furious” about being “frozen out” of an auction for collapsed department store Debenhams. The Sunday Times reported that lawyers for the tycoon have spent the last week complaining to Lazards and law firm Freshfields that Ashley’s Frasers Group had been given “woefully inadequate” information on the sale. Last week [...]

  • Retail mogul Mike Ashley makes fresh bid for Debenhams

    October 18, 2020

    Sport Direct tycoon Mike Ashley has reportedly made a fresh bid for Debenhams, reviving his long-standing pursuit of the department store chain. The retail billionaire this month submitted an improved offer as the auction for Debenhams nears its final stages, the Sunday Times reported. Debenhams, which collapsed into administration in April, has hired Lazard to [...]

  • Debenhams boss insists retailer is not on a cliff edge

    September 4, 2020

    The chairman of Debenhams has insisted that the struggling department store chain is not facing a cliff edge.  Chairman Max Gifford said the business, which recently entered administration for the second time in a year, has been doing better than expected.  Fears have been mounting about the retailer’s future following reports that Administrator FRP Advisory [...]

  • Debenhams sets bidding deadline for potential buyers

    September 1, 2020

    Struggling department store chain Debenhams has set a deadline for potential buyers to make offers for the company today as it seeks to avoid further closures and job losses.  Investment bank Lazard, which is overseeing the sales process, has set a deadline of 5pm this afternoon, Sky News reported. Debenhams recently entered administration for the [...]

  • Debenhams launches rates battle to decide future of company

    August 25, 2020

    Beleaguered department store Debenhams has launched a fight against business rates hikes, warning it could be forced to shutter more stores and lay off thousands of workers if it is unsuccessful. The retailer has appealed to a tribunal about a 12 per cent jump in business rates to £1.1m at its Swansea store.  Debenhams, which [...]

  • Debenhams axes 2,500 jobs in bid to cut costs after coronavirus lockdown

    August 11, 2020

    Debenhams has axed 2,500 jobs as it seeks to reduce costs following the coronavirus lockdown, in the latest blow for the struggling UK high street. The department store chain, which permanently closed 20 stores during lockdown, said the trading environment is “clearly a long way from returning to normal” after lockdown restrictions were lifted. The [...]

  • Three more Debenhams stores to stay closed when lockdown eases next week, bringing total to 20

    June 9, 2020

    Debenhams will not reopen three more stores when lockdown restrictions on retailers are eased next week, in a move that will cost around 300 jobs. The news brings the tally of Debenhams outlets that will stay closed next week to 20. It comes after the retailer failed to agree terms with the landlord, embattled shopping [...]

  • Debenhams reveals first UK stores to reopen this month

    June 4, 2020

    Debenhams has revealed which UK stores are set to reopen when lockdown restrictions are eased for retailers later this month.  The department store chain said three Northern Ireland stores. Including the Belfast flagship shop, will open on 8 June. A further two stores will open in Northern Ireland shortly after.  In England, 50 stores will [...]

  • Debenhams cuts ‘hundreds’ of head office and store jobs

    May 28, 2020

    Embattled retailer Debenhams is preparing to cut “hundreds” of jobs, with both head office and in-store roles set to go.  Debenhams, which is set to reopen most of its branches on 15 June, will cut some in-store roles due to reduced opening hours and the continued closure of services such as cafes, City A.M. understands. [...]

  • Coronavirus: Debenhams and Arcadia in talks with landlords over store closures

    April 19, 2020

    Major high street retailers including Debenhams and Topshop owner Arcadia are negotiating with landlords over whether stores will reopen after the coronavirus lockdown ends. All non-essential retailers were ordered to close when the government implemented restrictions to slow the spread of coronavirus last month. However, some stores will not reopen when the lockdown is relaxed [...]

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