// Debenhams’ unsecured creditors will not receive the £1.3bn owed to them
// The chain went into liquidation in 2020 before its brand and IP were snapped up by Boohoo Group
The unsecured creditors of Debenhams will not recover the £1.3bn owed to them before the retailer’s collapse in 2020.
The department store went into liquidation during the pandemic, with the country-wide lockdowns pushing the troubled retailer over the brink.
New filings from liquidator AlixPartners show there were no funds available for the retailer’s suppliers and landlords.
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Debenhams’ debt included £323.6m in relation to its revolving credit facility and £202.5m in unsecured loans.
The 242-year-old retailer’s brand and website were snapped up Boohoo Group in January 2021 shortly after it began the liquidation process.
The ecommerce group also acquired the collapsed Oasis and Warehouse Group brands out of administration from Hilco Capital for £5.25m the year before.
Unsecured creditors of both the brands are still owed £29.97m after administrator Teneo extended the restructuring process to July next year, the filings show.
They are set to receive no more than 3p in the pound over the next year.
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