Debenhams could soon be liquidating.
The beleaguered chain has hired restructuring advisers from Hilco Capital to draw up contingency plans in case it is unable to sell its business as it undergoes bankruptcy proceedings. The move threatens the future of its brick-and-mortar fleet as well as puts thousands of jobs at risk.
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In a statement obtained by FN, Debenhams said that the company is “trading strongly” with a “healthy cash position.” (It currently has a roster of 124 outposts.)
“The administrators have appointed advisors to help them assess the full range of possible outcomes, which include the current owners retaining the business, potential new joint venture arrangements with existing and potential new investors or a sale to a third party,” it wrote.
The announcement comes just days after Debenhams said it would trim 2,500 roles — or about 17% of its 14,500 staff in the United