MARKET REPORT: Debenhams sinks over pension fears as experts warn scheme may have swung from a £200m surplus to a £250m deficit
Investors dumped Debenhams shares as it became the latest High Street stalwart to raise fears of a major pension black hole.
Experts warned that the retailer’s scheme may have swung from a £200million surplus to a £250million deficit. The company already spends £9.5million a year on its contributions.
Morgan Stanley yesterday cut its rating on the stock, though it added: ‘Given the lack of visibility on the underlying assets in the pension scheme, this assumption may turn out to be wide of the mark.’
Debenhams is set to report next week. In its last update it revealed a 0.2 per cent fall in... read more
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