Debenhams agrees £200m lifeline from lenders

Published: 29-Mar-2019

The deal defeats a takeover bid by a takeover bid by Sports Direct’s Mike Ashley

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UK department store chain Debenhams has agreed a £200m refinancing lifeline with lenders, defeating a takeover bid by Sports Direct billionaire and Debenhams shareholder, Mike Ashley.

The retailer has said it will continue plans to cut the number of its stores and negotiate rent reductions but that the deal offered “reassurance for Debenhams' employees, pension holders, suppliers, lenders and other stakeholders.”

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