LONDON, Sept 10 (Reuters) - Debenhams Plc, the British department store
group, has denied market talk that it has breached its banking covenants.
"There's been no breach of covenants," a spokesman for the retailer told
Reuters on Wednesday.
At 1016 GMT shares in Debenhams were down 1.5 pence, or 3 percent, having
earlier fallen as much as 6 percent.
Traders said concern over the covenants had been sparked by Debenhams'
launch of a three-day retail promotion. However, an industry source said the
campaign had been long planned to promote Autumn/Winter merchandise.
The retailer is scheduled to publish a trading update on Sept. 16.
(Reporting by James Davey, editing by Will Waterman) Keywords:
DEBENHAMS/BANKING COVENANTS
tf.TFN-Europe_newsdesk@thomson.com
vs
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|