Monday, May 27, 2019
Home Business Debenhams in the race against time to secure the lifeline

Debenhams in the race against time to secure the lifeline

Debenhams will have to raise emergency funds by the end of this week, otherwise the troubled chain could face the administration.

Without debt refinancing and access to fresh capital, the contested retailer will not be able to pay a quarterly bill of £ 50 million.

The payment to the landlord is due on Monday, March 25, so an agreement with the lenders is required by the end of the week.

If a deal does not materialize, banks may be forced to call on their loans and force Debenhams into the administration, it said next to the talks. Lenders would then take control of the business.

The retailer's financial struggles have sparked a fierce power struggle with Mike Ashley, the sportswear tycoon …

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