Debenhams has secured £40 m in liquidity as it attempts a broader refinancing. The company issued three profit warnings last year and is struggling under a £ 360 m debt. The extra lending gives Debenhams some breathing space but the renegotiating of leases appears to be more complicated. Negotiations have been ongoing for one year without any obvious progress. One investor with a large stake forced the ousting of Debenhams chairman last month as well as driving the CEO off the board. The share value has increased by up to 49% on the news, but this was after a 96% fall since May 2015. The company has also signed an agreement with export and logistics company Li & Fung on a sourcing partnership for Debenhams own-brand products.