Wednesday 21 August 2019

Chop shop: Irish outlets not affected by cull of Debenhams stores in UK

Thursday 12 May 2016. Debenhams, Henry St.
Thursday 12 May 2016. Debenhams, Henry St.

Irish Debenhams stores are not to be affected by sweeping plans to shut 22 of the chain's UK outlets, a move that puts 1,200 jobs at risk.

The retailer's 11 stores in the Republic of Ireland are not affected by the two Company Voluntary Arrangements (CVAs), a UK insolvency scheme which lets the struggling firm cut costs and debt in order to survive.

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Lenders took control of Debenhams earlier this month in a deal that wiped out shareholders, including Sports Direct boss Mike Ashley, who had tried to take control of the business.

Irish Independent

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