Plans have been draw up for the retailer’s liquidation in the event that other options for saving the chain fail.
The iconic British department store chain was placed into administration earlier in the year and has already had to make around 4000 job cuts of its 14,000 employees. The department store still has 120 stores across the UK and has said that it has no plans to shut more stores as part of its latest restructure.
Hilco Capital, a firm that specialises in restructuring and refinancing struggling retailers, have been drafted in to work on contingency plans for Debenhams’ possible liquidation and the contingency plans put in place by Hilco will aim to secure the future of the 242 year old chain.
