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Debenhams lines up restructuring chief

Debenhams is reportedly lining up Stefaan Vansteenkiste to be its new chief restructuring officer.

Vansteenkiste, a managing director at the professional services firm Alvarez & Marsal, could be appointed later this week, Sky News reports.

Chad Griffin, Simon Kirkhope and Andrew Johnson of FTI Consulting were appointed as joint administrators of Debenhams plc yesterday, wiping out equity for shareholders including Sports Direct.

Debenhams is expected to launch a company voluntary arrangement in the coming weeks to close 50 stores and reduce rents, to turn the business around.

Debenhams declined to comment. 

 

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