UK retailer Debenhams preparing to file for administration - Sky

Britain's Debenhams, once the country's biggest department store group, could file for administration as soon as next week in a bid to protect its business from creditors during the pandemic, Sky News reported.

Debenhams' lenders took control of the retailer in April last year in an effort to keep stores open. They have since shut due to the outbreak. In response to the Sky report, a spokesman for Debenhams said the retailer was making contingency plans reflecting the extraordinary current circumstances.

"Our owners and lenders remain highly supportive and whatever actions we may take will be with a view to protecting the business during the current situation," he said. "While our stores remain closed in line with government guidance, and the majority of our store-facing colleagues have been furloughed, our website continues to trade."