British store chain Debenhams to file bankruptcy due to “Corona” | latest news

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British retailer Debenhams is preparing to file for bankruptcy after the struggling store was forced to close all private outlets due to the Corona virus.

The company has 22,000 employees worldwide and was rescued by its lenders after the management collapsed just a year ago.

Owned by the directors of Sports Direct International, Debenhams store chain rejected a proposal to sell a new amount of 150 million pounds sterling out of its financial crisis, with the end of the British chain talks with its creditors.

According to the Guardian, the company is considering providing formal notice of its intention to take legal action for this decision.

A Debenhams spokesman said: “Like all retailers, we are developing contingency plans that reflect the current unusual circumstances. Our owners and lenders remain very supportive and any actions we may take will be to protect businesses during the current situation. ”

He added: “Although our stores are still closed in line with government guidance, and most of our colleagues who face our stores have been neglected, our website continues to trade and we accept customer requests and gift and return cards.”

The group closed 22 stores, 19 of which were closed in January, resulting in the loss of more than 700 jobs. Another 28 out of 141 stores lined up for permanent closings next year.





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