Debenhams will close stores, says chairman
Retailer previously said it will close up to 10 stores
Debenhams chairman Sir Ian Cheshire has claimed that while the retailer is planning to close stores, it won’t be doing so through the insolvency process.
The company is reported to be working with KPMG on a plan to consider all its options.
However, he told BBC Radio 4’s Today programme that it was “simply not true” that Debenhams was “actively working” on a CVA, according to The Guardian.
Last year Debenhams said it would close up to 10 stores and two have already gone.