Debenhams strikes deals to rescue most stores

Debenhams says it has struck deals with landlords to keep most of its 142 stores open after it fell into administration last week. It has agreed terms on 120 branches and is in "advanced" talks on the remainder of its estate, it added. But seven stores will not reopen when the government lifts coronavirus restrictions on non-essential shops. However, the department store chain acknowledged a "handful" more sites could be at risk. Chief executive Stefaan Vansteenkiste said: "I'm delighted with the progress we are making with our landlord discussions, which reflects the pragmatic view the vast majority of them are taking of the current market conditions.

Source: https://www.bbc.com/news/business-52330268

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