Debenhams has issued its latest news – a plan to shed a further 2500 employees, the majority of which are still furloughed with government subsidy.
Currently trading from 124 stores, the business has been slammed for its treatment of creditors including its landlords.
It does now seem that new ownership is the only way left to salvage the business for a fresh start under completely new management. Potential buyers are likely to be thin on the ground in the current climate but it is understood that Mike Ashley, who was blocked by Debenhams board on his last attempts, has expressed interest.
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