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UK Department Store Group Debenhams Requests Five-Month Rent Freeze

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Troubled British department store chain Debenhams is asking for relief from landlords for five months of rent as it anticipates trouble from the ongoing coronavirus scare, according to a report by the Financial Times. Debenhams is responsible for about 250 million pounds ($306 million) a year in rent and bills.

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Today In Retail: Bed Bath & Beyond Inc. Enters Deal To Sell Cost Plus; Authentic Brands Might Buy Arcadia GroupĀ and Debenhams

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has entered into a definitive deal to sell Cost Plus World Market to Kingswood Capital Management, while Authentic Brands is reportedly in discussions with Arcadia Group and Debenhams. The deal involves 243 brick-and-mortar locations, the Cost Plus digital business, two distribution facilities and a California office.

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UK Treasurers Call For Accelerated Corporate Lending

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ACT said the banks’ program to lend directly to large businesses should be extended to include smaller firms. There will also be another 20 billion pounds ($23 billion) allocated for things like tax cuts, grants and various forms of aid for the countless businesses affected by the virus’ carnage.

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UK Retailers Dealing With Slow Holiday Shopping Season

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As for its investment in Debenhams , on which it said it lost Ā£76m, Ashley was critical, saying the management of Debenhams turned down help from him ā€” including an offer to increase his stake by 10 percent and/or offer an interest-free loan.

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UK Retailer Debenhams Denies Credit Insurance Cash Crunch

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retail giant Debenhams said it is not in a cash flow crunch following reports that insurers have cut coverage of the company’s suppliers, reports in Euronews said Monday (July 16). Sunday reports said insurers had cut trade credit insurance coverage for Debenhams suppliers.

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Bangladesh Clothing Suppliers Lost $3.7 Billion From Pandemic

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suppliers, with the most prominent being Primark , Mothercare and Debenhams , had canceled $1 billion in Bangladesh orders by June, the report stated. The pandemic forced many businesses to make a shift in operations toward a B2C or a direct-to-consumer (D2C) model. Data from Traidcraft Exchange showed that U.K. By comparison, the U.S.

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Route AI Package Tracking Platform Raises $12M In Seed Funding

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He has since founded seven companies and noted that the communications gap between customers and merchants ā€œalways plaguedā€ his businesses. The artificial intelligence (AI) powering the RouteBot is ā€œtrained on tens of thousands of online shopping sites,ā€ Chief Technology Officer Ryan Debenham told VentureBeat. .

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