Coronavirus: Debenhams to File for Administration
In the News
Debenhams will file for administration after the coronavirus lockdown forced it to shut its shops across the UK.
It described the process as a "light touch" administration to protect it from legal action from creditors while its department stores are closed.
Debenhams boss Stefaan Vansteenkiste said the circumstances of the decision were "unprecedented".
"We have taken this step to protect our business, our employees, and other important stakeholders," he said.
Well, I suppose this is no great surprise after the last few tumultuous years at Debenhams, but it a shame. Lots more people out of work (for good) now too. So sad to see all these institutions go down the pan.
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