Debenhams is also trying to accelerate plans to close stores, and is expected to close around 20 stores this year.
Debenhams announced last year that it would close up to 50 stores within three to five years, putting 4,000 jobs at risk.
However, it is now trying to secure an insolvency deal which would enable it to bring forward the closure of around 20 department store chains to this year.
Last year, rival chain House of Fraser fell into administration before Mike Ashley, the billionaire Sports Direct founder, bought the department store’s assets for £90m.
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