“transformational deal”
however does not include any of the chain’s 124 stores or safeguard jobs, putting 12,000 employees livelihoods at risk. The 243-year-old department store has been in administration since April 2020, with business advisory firmlast month beginning a liquidation process, to close the brand down after administrators failed to secure a rescue deal for the business.
In a statement released accompanying the news of the takeover FRP explain: “This transaction will allow a new Debenhams-branded business to emerge under strong new ownership, including an online operation and the opportunity to secure an international franchise network that will operate under licence using the Debenhams name.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.