Irish shoppers have been urged to use their Debenham gift cards "without delay" as the UK counterpart store faces administration.
Following the news, Debenhams Ireland, which operates 11 stores in the Republic, said its trading divisions, staff, suppliers and customers that the news will not affect operations in Ireland as the Irish store operate under a separate company, Debenhams Retail (Ireland) Ltd after its lenders took control of the UK parent group this morning and placed it into administration.
But as a precaution, the Consumers' Association of Ireland is advising people to use up any gift cards they might have stored away.
Speaking to the Irish Daily Mail, Consumers' Association of Ireland chief, Dermot Jewell said:
The group administration involves Debenhams’ lenders taking control of the ailing retailer, wiping out shareholders including the 30% stake held by billionaire and Newcastle United owner Mike Ashley.
Debenhams had been hit by a sharp slowdown in UK sales, high rents, and ballooning debt.