Tag : Debenhams
Debenhams CEO Bucher to exit this week Subscription
Debenhams has confirmed today that its chief executive Sergio Bucher will step down from the struggling department store chain this week, following its fall into administration.
Debenhams’ new management team must focus on cost cutting, product and store innovation to secure its future in the market, industry insiders have told Drapers.
Debenhams CEO Sergio Bucher to exitSubscription
Debenhams chief executive Sergio Bucher will leave the company following its fall into administration last week, Drapers understands.
Sports Direct CEO Mike Ashley is calling for the resignation of FTI Consulting, the administrators for Debenhams, after his stake in the department store chain was wiped out.
Debenhams landlords brace for CVA after pre-packSubscription
Debenhams landlords are preparing for the retailer to launch a company voluntary arrangement (CVA) to reduce costs, after entering a pre-pack administration today.
Sports Direct has called Debenhams’ pre-pack administration a “national scandal”, and called for the process to be reversed in favour of a “full, better and appropriate solvent solution”.
The UK high street took another hit this week as Debenhams entered a pre-pack administration and its lenders took control.
Debenhams poised to fall into administration today Subscription
Debenhams is expected to enter into a pre-pack administration today, after it rejected an increased £200m lifeline from Sports Direct.
Sports Direct’s Mike Ashley has tabled a last-minute £150m cash injection for Debenhams on the condition that he is named chief executive of the department store chain.
Moody's downgrades DebenhamsSubscription
Credit ratings agency Moody’s has downgraded Debenhams as a restructuring looks set to involve losses for the department store’s financial creditors.