SHOPPING chain Debenhams has confirmed it has formally entered administration.
The firm has appointed administrators from the FRP Advisory to oversee the process, after announcing it had filed a notice of intent to appoint administrators on Monday.
It is the second time Debenhams, which has a store in Worcester, has entered administration in the past 12 months.
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The company has previously said that with 142 stores closed, due to the government's lockdown on "non-essential shops", and the majority of their 22,000 staff on furlough, the owners want to push the business into administration then buy it back debt-free.
In January, the city branch in High Street was not on the list of branches to be closed nationwide.
Stefaan Vansteenkiste, chief executive officer of Debenhams, said: “In these unprecedented circumstances the appointment of the administrators will protect our business, our employees, and other important stakeholders, so that we are in a position to resume trading from our stores when Government restrictions are lifted.
“We anticipate that our highly supportive owners and lenders will make additional funding available to fund the administration period.
“We are desperately sorry not to be able to keep the Irish business operating but are faced with no alternative option in the current environment. This decision has not been taken lightly and is no way a reflection on our Irish colleagues, whose professionalism and commitment to serving our customers has never been in question.”
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