As it continues to struggle amid the coronavirus outbreak, Debenhams is preparing to file a notice of intention to appoint administrators as early as next week.
They are currently in talks with several firms, including “Big Four” auditor KPMG, which is said to be ‘on standby’ to handle the process. This prospective appointment would be designed to shield the company from legal claims from creditors during the coronavirus crisis.
A Debenhams spokesman said: “Like all retailers, Debenhams is making contingency plans reflecting the extraordinary current circumstances. Our owners and lenders remain highly supportive, and whatever actions we may take will be with a view to protecting the business during the current situation. While our stores remain closed in line with government guidance, and the majority of our store-facing colleagues have been furloughed, our website continues to trade and we are accepting customer orders, gift cards and returns.”
