The company was already in discussions with landlords before the coronavirus outbreak, but those talks have now become more urgent. Landlords have been told that a number of restructuring scenarios are being explored which have "varying outcomes" for the business, landlords and Debenhams' 20,000 workers. Retail analysts have already warned as many as 20,000 stores could fail to reopen after the UK recovers from the current pandemic. Laura Ashley became the first major chain to go bust last month as it failed to secure a £15million cash injection. And the closure of Primark stores is set to cost owner Associated British Foods £650million in lost revenues a month.

Source: Daily Mirror April 01, 2020 10:54 UTC