|Bid||0.0000 x 209200|
|Ask||0.0000 x 471500|
|Day's Range||1.5000 - 2.6360|
|52 Week Range||1.1000 - 23.2000|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 17, 2019 - Apr 22, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||10.00|
The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines Tories at odds over how long to allow Theresa May remain ...
The creditors of struggling British department stores group Debenhams on Thursday backed a restructuring plan that will see 22 stores closed next year, putting 1,200 jobs at risk. Executive Chairman Terry Duddy said: "I am grateful to our suppliers, our pension stakeholders and our landlords who have overwhelmingly backed our store restructuring plans. Debenhams' lenders took control of the retailer last month in a rescue deal which wiped out the company's shareholders, including Sports Direct boss Mike Ashley, who had tried to buy the whole group.
Debenhams' lenders took control of the retailer earlier this month in an effort to keep stores open, a deal which wiped out the company's shareholders, including Sports Direct boss Mike Ashley, who had tried to take control of the business. The retailer on Friday gave details of two proposed company voluntary arrangements which would keep all stores open during 2019, but with 22 closures planned for next year. Once the country's biggest department store chain, Debenhams has been hit by a sharp slowdown in sales, high rents and ballooning debt, plus a power struggle with billionaire shareholder Ashley's Sports Direct.
The 241-year-old retailer is seeking to shut the outlets as part of a previously announced plan for about 50 closures, Debenhams said in a statement Friday. Debenhams is also in negotiations with landlords to reduce rents and with local authorities to cut property taxes, according to the statement. Debenhams is struggling under more than 700 million pounds ($903 million) of debt and expensive leases agreed to years ago across its 166 stores in the U.K. A debt restructuring, in which lenders including U.S. hedge funds Alcentra, GoldenTree Asset Management and Silver Point Capital took over, culminated in shareholders being wiped out.
Debenhams has named 22 stores that will close next year as part of a plan to turn around its fortunes that will eventually see 50 branches close. Debenhams was taken over by its lenders this month after being put into administration. The new owners include Barclays and Bank of Ireland, as well as US investment firms.
The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines Blackstone to shift to a corporation from partnership https://on.ft.com/2Pl6LvM ...
Debenhams boss Sergio Bucher is to step down this week following a pre-pack administration which saw lenders take control of the the department store chain. Chairman Terry Duddy will take over as interim boss while Debenhams searches for a new chief executive. Mr Bucher departs two years after joining from Amazon where he ran its European fashion business.
LONDON (Reuters) - Debenhams said on Thursday its chief executive Sergio Bucher had decided to step down, nine days after the ailing British department store group's lenders took control. The group's non-executive ...
The following are the top stories on the business pages of British newspapers. A federal grand jury in Virginia indicted Indivior Plc for engaging in an alleged scheme to increase prescriptions of Suboxone Film, its opioid treatment, by deceiving healthcare providers about the drug's safety, the U.S. Justice Department said. European Union leaders have hailed a breakthrough in relations with China after Beijing promised to treat the continent's companies equally with its own.
The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines Indivior charged over alleged scheme to boost prescriptions ...
Debenhams' lenders took control of the ailing British retailer on Tuesday in a process designed to keep its shops open at the expense of shareholders, including an irate Mike Ashley, who were wiped out. Once the country's biggest department store chain, Debenhams had been hit by a sharp slowdown in sales, high rents and ballooning debt, plus an acrimonious power struggle with billionaire Ashley's Sports Direct. Administrators were appointed on Tuesday after Ashley's last-ditch bid to rescue the company failed.
The U.S. Trade Representative proposed a list of European Union products late on Monday on which to slap tariffs in retaliation to more than $11 billion of EU subsidies to Airbus the World Trade Organisation has found cause "adverse effects" to the United States. Piling on the uncertainty, the IMF on Tuesday cut its global economic growth forecasts for 2019, citing a potentially disorderly British exit from the European Union as a key risk. Airbus slid 1.6 percent after the United States included large commercial aircraft and parts on its proposed tariff list of EU products.
Department store chain Debenhams fell into administration today, with job losses and store closures expected.
(Reuters) - Billionaire Mike Ashley's Sports Direct said it did not intend to make an offer to buy Debenhams after lenders took control of the ailing retailer on Tuesday. Sports Direct had until April ...
Debenhams has gone into administration with control passing to the struggling department-store chain’s lenders. Under what’s known as a pre-packaged administration, Debenhams has been sold to a group of its lenders and will now have access to £200m in emergency funding. The administrators will look for bidders and attempt to recover money to repay Debenhams’ debts and cover its pension liabilities.
Lenders have taken control of Debenhams on Tuesday after the ailing department rejected a rescue offer from Sports Direct to inject £200 million into the ailing business. Administrators at FTI Consulting were drafted in to handle the pre-pack administration, giving debt-laden Debenhams access to a pre-agreed £200 million of fresh funding from its lenders. Debenhams shareholders’ have been wiped out in the process, including Mike Ashley’s Sports Direct, its largest shareholder with a 29.9% stake.