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.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Register for free to finish this article

Registration includes the following benefits:

  • Access up to four FREE articles per month
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article REGISTER NOW

Four articles not enough? SUBSCRIBE for unlimited access to over 100 weekly articles and our comprehensive archive. For as little as £5 per week.

Registered users and subscribers SIGN IN here to continue