Debenhams is in deep trouble. The department store chain, which has graced UK high streets for more than 200 years, has a towering debt pile of £560m. It is expected to lose £25m this year, and its shares have collapsed to just 2.8p, leaving the business valued at £34m.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: