Broken Back

Debenhams-file for the administration in accordance with the coronavirus lockdown forced to close his shops in the whole of the UK.

He described The Process as "light-to protect touch" management, the purchasing of the houses are closed from the suit of creditors, while.

Debenhams CEO Stefaan Vansteenkiste, Said , the circumstances of the decision were "never".

"We have to protect this step made by our business, our employees and other important interest groups," He Said .

Mr Vansteenkiste Said it will allow Debenhams ", the trade record from our outlets, if the government repealed restrictions".

it's not possible to say how many of the 142 shops would re-open after the lockdown.

"We Are committed to protect the jobs and you can open as many Debenhams stores for the trade as we can, as soon as this is possible," He Said .

It is The Second Time In a year that Debenhams has filed for administration. It has already closed closed 22 stores this year and plans a further 28 in the year 2021.

The trader Said , it is still of online Commerce, "normal", while its shops are closed.

It furloughed the majority of its employees, who are paid, under the government of coronavirus job retention System, the the 80% the employee pays the salary of up to € 2,500 per month.

"Debenhams has been in financial trouble for a while, so this comes as a big surprise," Said Julie Palmer, regional managing partner at the restructuring of the company that was Begbie's Traynor.

"But it leaves the 20,000 plus strong workforce in a precarious position fighting to new employment in the continuing uncertainty. "

to beat the Debenhams has been in urgent talks with its landlords to the new conditions. They were told that A Number of restructuring scenarios were investigated, which had "different results" for the company, landlords and Debenhams' 20,000 employees.

Last April, Debenhams fell into The Hands of the lender, consisting of a group of banks and hedge funds, led by the US-based company, Silver Point Capital, to keep fighting for years with the competition from Rivals .

The lockdown has exacerbated the pressure on the embattled retail already.

Arcadia, which is controlled by Sir Philip Green , it is reported that the preparation Walk Away from A Number of real estate leases.

The company, which owns several well-known High-Street chains including Topshop, Wallis and Miss Selfridge , has furloughed 14,500 of its 16,000 employees since the coronavirus lockdown and Said that the members of the management Board and executives take pay cuts of between 25% and 50%.

Arcadia is also with a view to the uncertainty about The Future of the concessions in Debenhams' stores.

Now, with all the non-essential shops closed, some retailers, such as Primark, decided to cancel contracts with their suppliers.

Fashion chain New Look recently informed its suppliers that payment for the shares, which are already sitting in the stores or the distribution Center has been delayed "indefinitely".

Independent retail expert, Clare Bailey Said retailers had already caved in under pressure for The Last two or three years, because of the uncertainty and its effect on consumer confidence.

"[Coronavirus] was The Last straw of all the straws that broke the camel's already Broken Back ," She Said .

Source of news: bbc.com