Debenhams nets £40m cash lifeline to ease funding crisis

Struggling Debenhams says it has netted a £40m credit facility as it continues talks with lenders to secure its financial future.

The department store chain, which is carrying out a transformation plan in exchange for continued support from its banks, said the new funds would “act as a bridge to facilitate a broader refinancing and recapitalisation.”

Debenhams said it hoped to conclude a “comprehensive” agreement in due course.

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