Debenhams owners preparing to throw in the towel

Word has it that Debenhams’ owners have commenced with preparatory work to liquidate the business. Hilco Capital has apparently been appointed to assist in winding down the terminal retail business in the increasingly likely event that no buyer emerges. A deadline for securing a sale had been set for the end of September and it can be assumed that hoped for interest is thin on the ground.

Debenhams has not yet made a formal comment on the matter. The troubled retailer has been in a ‘light touch’ administration since April.

Around 14000 staff members would be affected if the business moves to liquidate its stock and other assets.

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