Debenhams wields the axe for thousands of workers as Wales enters recession

THE Chain store Debenhams has been struggling to avoid administration for some time. In April, Debenhams fell into administration for the second time in a year as COVID-19 hit home. Stores have remained open post COVID-19 but staff at many of the stores remained furloughed. This week the store contacted Continue Reading

Hope for long-term future of Debenhams Swansea

IT was more trickle than a torrent, but customers are back spending money again at Debenhams in Swansea after council chiefs stepped in to prevent it from closing permanently. The anchor store at Quadrant Shopping Centre won’t be liable for business rates until next year in a move engineered by Continue Reading

Wales based Debenhams stores spared the axe as twenty-two stores look set to close

Debenhams stores based in Wales have been spared the axe temporarily as the giant retailer launches its Company Voluntary Arrangement (CVA), which will see at least 22 of its underperforming stores close by 2020 placing 1200 jobs at risk. Debenhams is now in the hands of  its secured lenders after Continue Reading

What next for Debenhams?

THE retail giant Debenhams is now in the hands of  its secured lenders after administrators were appointed to handle the sale of the business to a newly incorporated company. The secured lenders are reportedly made up of a mixture of banks and US hedge funds.  Shares held in the company Continue Reading

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