NEWS

Debenhams Ireland to save around 1,330 jobs with restructure

Published on: 22nd August 2016

The High Court has approved a scheme to allow 11 Irish stores to continue trading.

debenhams-480Put together by the retailer’s examiner, Keiran Wallace of KPMG, and agreed by the majority of Debenham’s creditors, the plan was formally approved at the High Court on Friday.

The plan will allow Debenhams Ireland, a subsidiary of the UK Debenhams, to exit examinership.

The retailer’s 11 stores are to remain open and the vast majority of the company’s 1,400 directly employed staff are to keep their jobs.

There will be no compulsory job losses, with 98 voluntary redundancies.

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