Debenhams chief executive steps down


Sergio Bucher, Debenhams chief executive has stepped down after lenders have taken control of the retailer.

According to Reuter, Terry Duddy the non-executive chairman has been appointed interim executive chairman until a replacement is found.

The appointment of administrators happened on 9 April, and immediately sold the group in a pre pack administration to the newly incorporated company controlled by the lenders.

Sports Direct owner Mike Ashley 30% stake was wiped out including all shareholders.