Retailer Debenhams has placed its 11 Irish stores into examinership, putting over 2,200 jobs at risk.
According to the Irish Times, the move comes following the failure of rent negotiations with landlords.
Earlier this week, it was announced that Kieran Wallace of KPMG had been appointed interim examiner of Debenhams Ireland by the High Court.
Despite the move, the chain has told staff and customers that it’s “business as usual” during the period of court protection.
They will also be seeking further discussions requesting a rent reduction.
The Irish Times reports that the company told the court that the alternative to examinership is liquidation with a deficit of €264 million.