Debenhams secures £40m lifeline as it battles for survival

Short-term loan aims to buy time to arrange finance and shop closure plansDebenhams has secured a cash injection of £40m, giving it more time to arrange a longer-term refinancing and store closure plan.The ailing department store chain, which has 165 outlets and employs 25,000 people, has been battling to reach a deal with its banks and bondholders after a difficult Christmas capped off a lacklustre 2018, during which it issued three profit warnings. Continue reading...