Debenhams share price slumps as business calls in KPMG

Shares

Debenhams’s share price tumbled 10.16% to 11.43p on Monday after news broke over the weekend that the beleaguered retailer had called in KPMG as it considers restructuring options including store closures and a company voluntary arrangement.

At one point during the day shares were down 17% from closing price on Friday, but rallied after management issued a statement saying it expecys to report pre-tax profits of around £33m this year, within the current market range of £31m to £36.5m next month.

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