Debenhams is demanding reductions in business rates alongside cuts to rents as part of its attempt to reduce its store occupancy costs, according to documents seen by the Financial Times.
Last week, the struggling department store group confirmed it would launch a company voluntary arrangement – a type of insolvency proceeding – to restructure its expensive and inflexible leases.
That followed a financial restructuring through which the group’s creditors took control of its business and assets.
