Board moves | Debenhams CEO ousted as company crumbles

As the ongoing news of department store Debenhams’ decline continues, the new majority shareholders have asked current Chief Executive Sergio Bucher to step down from his position.

The High Street retailer, which has a history dating back to 1813, entered administration on Tuesday, when its PLC business was immediately sold to a newly-incorporated company controlled by secured lenders in return for a reduction in debt totalling £600million.