Coronavirus: Debenhams to file for administration
Debenhams will file for administration after the coronavirus lockdown forced it to shut its shop across the UK.
It described the process as a “light touch” administration to protect it from legal action from creditors while its department stores are closed.
Debenhams boss Stefaan Vansteenkiste said the circumstances of the decision were “unprecedented”.
“We have taken this step to protect our business, our employees, and other important stakeholders,” he said.
Mr Vansteenkiste said it will allow Debenhams “to resume trading from our stores when government restrictions are lifted”.