Our retailing correspondent, MT WALLETTE, on the latest set-back to a £1.4billion redevelopment of the town centre based on retailing
More trouble in store at Centrale if Debenhams is in difficulties
Hammerson, one half of The Croydon Partnership which wants to rebuild a vast town centre shopping mall, could face the second of its major department stores knocking on their door with a begging bowl and asking to end or reduce their rent payments, or even close their Croydon store.
Debenhams yesterday rushed out an early statement to the London Stock Exchange to reassure investors as its share price dropped by 10 per cent. The lack of confident in the business was based on suggestions that Debenhams would soon be seeking a CVA – a company voluntary arrangement – which would include widescale store closures and agreements with landlords to reduce its rents.
This is all going on even as…
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