Debenhams has been taken over by its lenders, paving the way for store closures that put thousands of jobs in the UK at risk, the Guardian reports.
The report says that the group's 165 outlets will continue to trade.
A letter to shareholders read that Simon Kirkhope and Andrew Johnson had been appointed joint administrators of Debenhams.
It said the group's two principle operating companies had immediately been sold to a new company owned by Debenhams' lenders.
from The Malta Independent http://bit.ly/2FZE7Mg
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