The chairman of Debenhams has denied suggestions that the retail chain may be looking into an insolvency process, saying that it is “simply not true”.
Sir Ian Cheshire said that speculation about the department store chain’s future had become a circus and referred to nosy neighbours gossiping about its health.
His comments came after a trading statement on Monday failed to halt a decline in its share price. The shares fell by 10.2% on Monday, but rebounded 6.7% to 12¼p yesterday after Sir Ian’s comments, valuing Debenhams at £143m.
