Debenhams has appointed a turnaround expert to lead the business, as it prepares to close stores and rebuild performance after being put into administration earlier this year.

A dispute between Irish Life and a UK-based fashion retail group over the purported termination of a lease for a premises in Cork City has been admitted to the fast-track Commercial Court list.

Irish branches of Debenhams have avoided cuts with 22 shops in the UK set to close their doors.

Debenhams is to seek €230 million in new financing and pursue a restructuring plan in a move which could wipe out existing shareholders including Mike Ashley.

Embattled retailer New Look has agreed a restructuring plan with creditors that will see it shut 60 British stores, resulting in the loss of up to 980 jobs.

Retailer Toys R Us UK has collapsed into administration, putting 3,200 jobs at risk, after last-ditch rescue attempts failed.

Charles Green and Rangers players were on a collision course last night over whether they should transfer to his new company or not.

Any Rangers player who tries to force a move away from the ‘newco’ club could face legal action, chief executive Charles Green has warned.

Rangers chairman Malcolm Murray has urged fans to unite behind the new regime after a Walter Smith-led consortium withdrew their interest in buying the club.

Ally McCoist will remain as Rangers boss following a constructive meeting with new chief executive Charles Green.

Rangers’ administrators have played down claims that a deal has been reached with the UK Revenue and Customs service (HMRC) over the club’s debt.

Scottish Premier League chief executive Neil Doncaster has told Rangers not to expect any special treatment if they apply for re-entry to the top-flight as a newco.

Scottish Football Association chief executive Stewart Regan will seek to discover the full composition of the Charles Green consortium which is set to take over at Rangers.

Charles Green has outlined his vision of Rangers as a profit-making exercise able to exploit its name across the globe after succeeding in securing the club for his broad ownership group.

The Blue Knights believe they were on the verge of being named preferred bidder by administrators for a Rangers takeover before a rival bid was tabled at the 11th hour.

The Blue Knights have withdrawn their bid to buy Rangers.

Rangers administrators Duff and Phelps have announced that Craig Whyte has confirmed he will transfer his majority shareholding to two parties involved in takeover talks.

Rangers’ administrators claimed Bill Miller could complete his purchase of the club by the end of the season after naming the American businessman as preferred bidder.

Rangers’ administrators have admitted liquidation is a possibility for the Ibrox club under new owners.

Rangers have lodged legal papers signalling their intention to enter administration at lunchtime today.

Portsmouth's creditors have voted overwhelmingly in favour of a deal which should see the club exit administration.

PORTSMOUTH will have more than two-thirds of their debts written off after a deal with creditors was thrashed out yesterday but have been hit with a further £17million (€19.9m) claim from the taxman.

Leeds have no more than a 30% chance of getting their 15-point penalty overturned by an independent tribunal, according to sports law specialist Richard Cramer.

The independent tribunal to consider Leeds’ 15-point penalty imposed by the Football League at the start of the season will begin next Wednesday.

Leeds have been barred from full membership of the Football Association after they were unable to prove all their non-football creditors had been paid.

The Football Association have given Leeds the all-clear to play York in a pre-season friendly at KitKat Crescent tonight.

Leeds are still hoping to launch their pre-season fixture schedule at York tomorrow as they wait anxiously to see if the Football League will approve chairman Ken Bates’ buy-back deal.

KEN BATES has insisted that Leeds have been given “a clean start” after his consortium bought the troubled League One club — but doubts remain over the club’s Football League future.

Leeds have upped their offer to the Inland Revenue from £77,000 to £616,000 in a last-ditch attempt to avoid a legal challenge to the club being re-sold to Ken Bates.

Former Leeds chairman Gerald Krasner has branded Ken Bates’ offer to pay off the club’s creditors as “utterly derisory”

Former Leeds chairman Gerald Krasner believes the battle for control at Elland Road is only just starting.