Do A Bit Of Debenhams

at

This morning.

Henry Street, Dublin 1.

Shop workers, including Sam Soliman (top), picket outside Debenhams following a High Court decision to appoint provisional liquidators to the UK chain’s Irish operation after it was told by the company that it is insolvent and couldn’t pay its debts.

Sam Boal/Rollingnews

Update:

Meanwhile…

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14 thoughts on “Do A Bit Of Debenhams

        1. Tony

          all right lads no need to lose the rag. I’ve every sympathy for the Debenhams workers. It’s a terrible state of affairs but the company’s gone bust and they’re ‘protesting the appointment of a liquidator’. I’m just saying a protest isn’t going to force Debenhams back to solvency. Hope they get a decent redundancy payout

          1. Ronan

            It’s an unfortunate mentality I’ve encountered with several people who see a collective ‘they’ as responsible for them in every way, shape and form.

            ‘They’ are Debenhams, who are finally insolvent after years in and out of examinership and ‘they’ should do right by the workers and somehow bend insolvency law to take from creditors getting 5c on the euro to give generous redundancy.

            ‘They’ are also the bank/liquidator/landlord, who are fat cats and should forego their step-in rights so that workers get what’s left of the cash in the company.

            ‘They’ are the government, who should step in and make the liquidator/bank/landlord/insolvent company do something, or get out their own chequebook out to pad the redundancy.

            The mysterious ‘they’ are a collective – in the minds of people who see themselves in some late 19th century / early 20th century class-divided country – all collaborating to keep workers down.

            I feel for these workers, but they are 2,000 in a swarm of 1,000,000 workers who are losing their income, and in reality the only protection afforded by law is statutory redundancy.

            It was the same with the Vita Cortex sit in here in Cork. You can draw attention to a plight, but it doesn’t change the business and life reality of a company that cannot hope to service it’s debt and expenses based on it’s income projections.

          2. Dilbert

            Went through that
            Statutory redundancy and it was hell
            Even worse was the support from the various of pretty vile individuals in dunloghaire dole office

  1. Ron

    Won’t be long before the COVID money starts running out and all these newly unemployed are left sitting at home twiddling their thumbs wondering where it all went wrong. that’s when the street demonstrations will start. Mark my words

    1. Dilbert

      Correct and as for any business who survived it will find no money available but bank loans at pretty high rates
      Feel sorry for the new kids on mortgages as the property
      Market crashes even lower than the crash
      We will see many affordable houses but no one who can afford one

    1. Termagant

      Part of the debt is owed to them
      However a larger part of the debt is owed to a US hedge fund and those types aren’t known as the debt-forgiving kind

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