Debenhams administrators have made millions in fees since the department store went bankrupt in 2020.

According to reports in The Times, FRP Advisory has earned more than £7.2 million since the department store company declared bankruptcy.

In January 2021, the administrators oversaw the sale of the retailer’s brand and website to fast-fashion behemoth Boohoo for £55 million.

READ MORE: CLOTHING RETAILER JOULES ABOUT TO FALL JEOPARDISING 1,600 JOBS

According to the documents, FRP Advisory received an additional £1.9 million in remuneration between April and October of this year as a result of increased staff rates.

Debenhams first declared bankruptcy in 2019, and the news comes as retail behemoths such as Made.com face a similar fate in 2022.

Following the collapse of the online furniture retailer last week, Next purchased its brand, domain names, and intellectual property for £3.4 million.

Need Career Advice? Get employment skills advice at all levels of your career

Joules also declared plans to appoint its own administrators this morning, putting 1,600 jobs at risk.

Source: Retail Gazette

Follow us on YouTubeTwitterLinkedIn, and Facebook


Tags:

Store