Debenhams to announce £40m short-term cash injection

Move aims to buy department store time to arrange long-term finance and shop closure plansDebenhams is expected to announce a short-term cash injection of about £40m as it buys 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, is 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.