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Debenhams to place Irish arm into examinership

Debenhams’ Irish arm has applied for protection from the High Court in Dublin as it restructures in an attempt to become a “sustainable business”.

Debenhams Cork

Debenhams Cork

Debenhams Retail Ireland, which made a loss of €6.7m (£5.2m) in the last financial year to August 29 2015, is seeking the appointment of an interim examiner.

Under Irish law, the examinership process provides court protection while negotiations with suppliers are carried out, allowing the company to continue trading.

All 11 stores will remain open during the process, which can last up to 100 days. 

John Bebbington, director of Debenhams Retail Ireland, said: “The directors will work hard to secure the long term future of the business in Ireland, enabling us to continue to serve our customers well, to provide sustainable jobs for our colleagues and to support the Irish economy.

“A key element of the examinership would be to protect as many jobs as possible. We believe this will be in the best long term interests of all our stakeholders.

“During the examinership process it will be business as usual for all of our 11 stores and online trading in the Republic of Ireland.”

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