Thousands of jobs have been saved after the High Court approved a restructure including securing leases at key stores.

The move means that Debenhams Ireland will exit examinership and save all eleven stores in the group.
Debenhams operates four stores in Dublin, two in Cork, and others in Galway, Limerick, Newbridge, Tralee and Waterford.

The company went into examinership last May, having failed to recover from the recession in 2007.
 “The directors of Debenhams Retail (Ireland) Ltd are delighted to have secured the future of Debenhams stores in Ireland,” Debenhams Ireland director John Bebbington said.

“We are very pleased with the overall outcome of securing jobs and keeping open all 11 stores, thereby ensuring that we continue to offer our customers a great selection of products and brands.

“Our priorities are now to implement the restructuring plan to ensure Debenhams’ long term sustainable future in Ireland.

“To that end, an investment plan for the business has commenced in addition to a funding facility that will provide support to the business for the next three years.”