Investors to save the Debenhams store chain

The UK retail chain receives 40 million pounds capital injections from its investors, which are intended to secure the company’s long-term financial stability – origo wrote.

Britain’s largest supermarket chain has accumulated some 300 million euros (95.3 billion forints) of debt. It is closing fifty of its underperforming businesses and firing 4,000 people.

The company said in a statement that the 40 million pounds (14.5 billion HUF) was granted as a 12-month loan to Debenhams, which could help to restore the financial system of the company, while discussions continue on additional financing. (origo)