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Debenhams may close stores this year under restructure

Debenhams is exploring a company voluntary arrangement (CVA) which could bring forward the closure of around 20 of its department stores this year.
The company is in talks with its banks to increase its borrowings ahead of a quarterly rent payment due on 25 March.
A CVA would allow Debenhams to renegotiate its rent with landlords and speed up shop closure plans.
It is understood that the company is running out of headroom on its £520m borrowing facilities with its banks.
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