Debenhams to announce £40m short-term cash injection

Move aims to buy department store time to arrange long-term
finance and shop closure plans

Debenhams is
expected to announce a short-term cash injection of about £40m as
it buys more time to arrange a longer-term refinancing and store
closure plan.

The ailing department store chain, which has 165 outlets and
employs 25,000 people, is battling to reach a deal with its banks
and bondholders after a difficult Christmas capped off a
lacklustre 2018
, during which it issued three profit
warnings.

Source: FS – All-News2-Economy
Debenhams to announce £40m short-term cash injection