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Debenhams ‘never recovered from private equity ownership’

Retail experts blame period in hands of consortium for firm’s inability to weather Covid closures

Coronavirus store closures may have been the final nail in the coffin for Debenhams but retail experts argue the department store chain never recovered from a brutal period in the hands of priv ate equity.

The retailer was taken over in 2003 by a private equity consortium. The trio of funds, TPG, CVC Capital and Merrill Lynch, made huge returns from their £600m investment, collecting £1.2bn in dividends despite owning the company for less than three years.

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Read the original article at The Guardian

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