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Debenhams' owners poised to force out CEO Bucher

The new owners of Debenhams are preparing to oust chief executive Sergio Bucher in a bid to revive the department store.

Debenhams’ lenders are putting together a new leadership team after the business entered into a pre-pack administration last week.

The lenders paid £101.8m for the group and took on £520m of debts and its pension obligations, taking the total cost to £621.81m.

Drapers understands that the new owners are in talks with current Debenhams chairman Terry Duddy to take on an executive role.

Bucher was appointed as Debenhams chief executive in May 2016, replacing Michael Sharp. He joined from Amazon, where he had served as vice-president of Amazon Fashion Europe since 2013.

He was previously general manager for retail and worldwide ecommerce at Puma and has also held roles at Nike and Inditex, where he led the launch of its lingerie brand Oysho.

Readers' comments (1)

  • The new owners have a win win either turn the business around and get their money back, or liquidate and get their money back.It will be the staff and suppliers who lose out in the end not the money men :-(

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