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Debenhams lenders hire FTI to advise on restructuring - Sky News

Debenhams lenders hire FTI to advise on restructuring - Sky News
FILE PHOTO: Shoppers walk past the Debenhams department store on Oxford Street in London, Britain December 15, 2018. REUTERS/Simon Dawson -
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SIMON DAWSON(Reuters)
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(Reuters) - A group of lenders to Debenhams Plc <DEB.L> has hired FTI Consulting to advise on restructuring of the British department store group, Sky News reported https://news.sky.com/story/debenhams-lenders-brace-for-restructuring-amid-retail-crisis-11602690 on Wednesday.

The company had said in October it plans to close up to 50 of its underperforming stores, putting about 4,000 jobs at risk, after it reported a record full-year loss of nearly 500 million pounds.

Debenhams later declined a 40 million pounds loan offer from Mike Ashley's Sports Direct International Plc <SPD.L>.

FTI and Debenhams did not immediately respond to a request for comment.

(Reporting by Samantha Machado in Bengaluru; Additional reporting by Noor Zainab Hussain and Sangameswaran S; Editing by Shounak Dasgupta)

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