Small landlords and councils will be among the biggest losers if Debenhams manages to push through a restructuring this week that will shut 22 stores and slash rents on 105 more.
The department store’s creditors are due to vote on Thursday on a proposed company voluntary arrangement (CVA), an insolvency procedure that allows ailing retailers to close shops and renegotiate leases.
Debenhams’ 166 sites are owned by 70 different landlords.
