DEBT-ENHAMS HOPE

Struggling Debenhams is set to announce progress in talks with its lenders as early as today. It is believed the update won’t include related plans to close stores as part of a Company Voluntary Arrangement, for now at least.

The start of the talks prompted a backlash from tycoon Mike Ashley, whose Sports Direct is Debenhams’ biggest shareholder.

That led to the chain’s boss Sergio Bucher being booted off the board and chairman Sir Ian Cheshire quitting.