Home Business News Debenhams enter administration with 22,000 jobs at risk

Debenhams enter administration with 22,000 jobs at risk

by LLB Reporter
9th Apr 20 3:50 pm

Debenhams has entered into administration amid the coronavirus pandemic, with around 22,000 jobs at risk

The retailer have appointed FRP Advisory to oversee the process, on Monday the company filed a notice of intent to appoint administrators.

The company closed 142 stores across the UK after the government announced a three week shutdown due to the coronavirus pandemic.

The company’s chief said they will work to “re-open and trade as many stores as possible” once the lockdown is lifted.

Debenhams chief executive Stefaan Vansteenkiste said: “In these unprecedented circumstances the appointment of the administrators will protect our business, our employees, and other important stakeholders, so that we are in a position to resume trading from our stores when Government restrictions are lifted.

“We anticipate that our highly supportive owners and lenders will make additional funding available to fund the administration period.”

He added, “We are desperately sorry not to be able to keep the Irish business operating but are faced with no alternative option in the current environment,” Vansteenkiste said.

“This decision has not been taken lightly and is no way a reflection on our Irish colleagues, whose professionalism and commitment to serving our customers has never been in question.”

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