Debenhams secure £200mil refinancing deal

SPORTS Direct’s chief executive Mike Ashley has been dealt a major blow as Debenhams manage to  secure £200 million refinancing.

The retailer has reportedly announced plans to begin its restructuring, which could include reducing rents and closing stores. It is understood that no stores are expected to shut down before Christmas, and Debenhams would only undergo this process through negotiations with landlords or a possible CVA.

Photo: Iwan Lewis

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