Debenhams will file for administration after the coronavirus lockdown forced it to shut its shops across the UK. It described the process as a "light touch" administration to protect it from legal action from creditors while its department stores are closed. Debenhams boss Stefaan Vansteenkiste said the circumstances were "unprecedented", but  added it will allow Debenhams "to resume trading from our stores when government restrictions are lifted". However, he did not say how many of its 142 shops would reopen after the lockdown.

It will be the second time in a year that Debenhams has filed for administration. It has already closed 22 stores this year and plans to shut a further 28 in 2021.

The retailer said it is still trading online "normally" while its shops are closed.

full article: Debenhams to file for administration