Home Business News Debenhams chief executive steps down

Debenhams chief executive steps down

by LLB Reporter
19th Apr 19 10:58 am

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.

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