A Debenhams shop in Oxford Street, London, the UK. Picture: AFP/TOLGA AKMEN
Executive chair Terry Duddy said:"I am grateful to our suppliers, our pension stakeholders and our landlords who have overwhelmingly backed our store restructuring plans. Once the country's biggest department store chain, Debenhams was hit by a sharp slowdown in sales, high rents and ballooning debt. Earlier on Thursday, the investor consortium said it would retain ownership after bids for the chain fell short of the level they wanted.
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