Debenhams could file for administration to protect its business from creditors during the pandemic.
REPORTS from Sky News claim that the store is facing administration after closing its 142 stores across the UK, due to the current coronavirus crisis.
Reports suggest that they could file for administration within the next week.
Debenhams’ lenders took control of the retailer in April last year in an effort to keep stores open, but it is believed that the efforts have failed.
The group currently employs 22,000 people – whose jobs are now all at risk.
No-one from the company has commented on the situation as of yet.