A potentially devastating loss for the British high street.
Debenhams shareholders are preparing to go into administration today as the business suffers through theThe retailer, which has existed for 242 years, is likely to appoint administrators next week, Sky News reports.A firm decision has not yet been taken though and a different outcome is possible.
A sign informs customers of the closure of a Debenhams department store due to the coronavirus outbreak in Leeds Debenhams, which employs around 22,000 people, furloughed the majority of its workforce after it closed its 142 stores across the UK.The wages of its employees will be covered for three months by the government’s Coronavirus Job Retention Scheme.
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