What does Debenhams’ administration mean for creditors? | News

Previously today Debenhams submitted a detect of intent to appoint administrators to safeguard it from the menace of authorized motion that could have pushed the business into insolvency.

The retailer mentioned it would carry out a “light touch” administration whereby the current management team will keep on being in position less than the manage and supervision of administrators.

“This is not about Debenhams likely away – it’s about supplying Debenhams a long term and preserving the business, shops and positions by way of this administration process,” a source close to Debenhams told Drapers.

“The intention extremely a lot is after the governing administration lets shops to reopen, it will appear out of administration, shops will be reopened for investing, the staff that are on furlough at the moment will appear again into the business and there will be further cash injected by the existing proprietors and loan companies.”

Negotiations with

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