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EasyJet draws $1.35bn of UK coronavirus loan

Bloomberg EasyJet Plc borrowed 1.1 billion pounds ($1.35 billion) to shore up its finances during the coronavirus pandemic, tapping into a UK guarantee programme in defiance of founder Stelios Haji-Ioannou’s escalating activist campaign. The UK discount carrier accessed 600 million pounds in Bank of England-backed commercial paper and requested to draw down 500 million pounds from an existing facility that’s ...

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Covid-19: Debenhams seeks administration

Bloomberg Struggling UK retailer Debenhams Plc moved to protect itself from creditors after closing its stores because of the coronavirus. The department-store chain filed a notice of intent to appoint administrators under UK insolvency procedures. The company said the goal was to avoid being pushed into liquidation as it eyes reopening after virus-related restrictions are eased. Debenhams envisions what it ...

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Pier 1 Imports joins retailers citing court ruling to skip rent

Bloomberg Retailers have a new tool to use in the scuffle between landlords and tenants: a court ruling that could help them withhold rent. Pier 1 Imports Inc is the latest retailer to seize on the precedent, asking a judge to let it skip rent payments amid the coronavirus outbreak that has shuttered stores across the US. The judge overseeing ...

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