Debenhams sole Australian store is set toclose after Greenlit Brands subsidiary, PSEA Dept Store confirmed itsDebenhams Australia franchise terminated.
Bothfranchise and brand agreements to operate the Melbourne outlet will be terminated putting an end to the embattled UK retailers Australian venture.
The announcementcomes roughly three months after shareholders voted for a Company Voluntary Arrangement (CVA).
The arrangement put the struggling British department store chain into the hands of its lenders. The result of which saw CEO Sergio Bucher resign and the business enter voluntary administration.
Debenhams Australia franchise terminated
In April, Debenhams announced plans to close 22 stores in the UK, a move it said woul…
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