Debenhams’ shares plunged to a new low last week amid growing concerns in the City about its performance.
When the department store retailer was floated last May its share price was 195p; last week it stood at just 94.75p.
In last month’s trading update for the year to September 1 Debenhams said sales had increased 5.1% compared to the previous year, but that like-for-likes had seen a 5% decline.
The retailer also warned that clearing out stock in advance of the arrival of new-season merchandise would require increased markdown and that the year’s gross margin would show a decline in the region of 0.9%.
Debenhams will report its preliminary results for the 52 weeks to September 1 on October 23.