// Debenhams calls for five-month rent holiday amid coronavirus outbreak
// Debenhams became one of many retailers to witness the impact of the outbreak
Debenhams has requested for a five-month rent holiday from its landlords as it finds ways to deal with disruptions caused by the coronavirus outbreak.
The department store chain has asked for the rent-free period to begin immediately.
“All retailers are facing unprecedented pressures from the current situation and we are managing our operations to minimise risks to colleagues and customers while, as far as possible, trading as normal,” a Debenhams spokesman said.
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“We have access to funding, supportive investors and an experienced leadership team that will take appropriate action to manage through this period.”
Debenhams has become one of the many retailers to witness the impact of the coronavirus outbreak, as many shoppers decide to stay at home and avoid the local high street.
Fashion retailers such as Urban Outfitters have closed all global stores to help minimise the spread of the virus.
To add to Debenhams’ woes, its chief executive Stefaan Vansteenkiste announced his resignation last week, after less than a year in the role.
Vansteenkiste is set to step down within months and headhunter Spencer Stuart has been hired to find his successor.
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