Debenhams on the block again

Life following two administrations finds Debenhams on the block once more. Its backers are understood to be seeking an early exit.

Lazard has apparently been appointed to oversee the process, with a sale to a third party viewed by many as the cleanest way to bring an end to the current situation. With 124 stores having re-opened, 18 stores permanently closed, its Irish business in administration, the heavily indebted business is still, remarkably, under the control of its remaining directors which was a condition of the current ‘light touch’ administration. Clearly, though the business is far from booming and both the number of prospective parties who would be interested, as well as what they would be prepared to pay, have greatly diminished. 

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