Debenhams set to call in administrators due to coronavirus
- Credit: PA
Debenhams has said it is “making contingency plans” following reports the high street retailer is preparing to call in administrators.
The national department store chain is reportedly due to all in administrators early next week to protect the company against claims from creditors. Debenhams has stores in Norwich city centre as well as one in King’s Lynn.
The company has not yet filed for insolvency but sources told PA that administration is the “most likely” course of action.
The retailer has lined up accountancy firm KPMG to handle the process, according to Sky News.
A Debenhams spokesman said: “Like all retailers, Debenhams is making contingency plans reflecting the extraordinary current circumstances.
“Our owners and lenders remain highly supportive and whatever actions we may take will be with a view to protecting the business during the current situation.
“While our stores remain closed in line with government guidance, and the majority of our store-facing colleagues have been furloughed, our website continues to trade and we are accepting customer orders, gift cards and returns.”