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Debenhams secures cash injection as it battles for survival

Image copyright Getty Images Debenhams is understood to have secured a cash injection of around £40m to buy it extra time as it battles to secure a longer term deal with lenders. The department store chain is expected to announce the fresh funds imminently. The struggling chain – which issued three profit warnings last year – is in talks with lenders and bondholders over renegotiating its debts. Debenhams is also trying to accelerate plans to close stores, and is expected to close around 20 stores this year. The extra money…

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Tennessee inmate chooses electric chair over lethal injection

Image copyright AFP Image caption The electric chair has gradually been replaced as the main method of execution An inmate in the US state of Tennessee is to be executed by electric chair after arguing that a lethal injection would involve suffering. David Earl Miller, who has spent 36 years on death row, is among an increasing number of inmates attempting to avoid lethal injection following several botched executions. Another Tennessee inmate, Edmund Zagorski, was electrocuted last month. Lethal injection is the state’s main method of execution. However, inmates in…

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Patisserie Valerie saved by cash injection

Image copyright Getty Images Patisserie Valerie has been saved from collapse after entrepreneur Luke Johnson, who owns 37% of the company, provided £20m in loans to the struggling chain. Mr Johnson agreed to lend £10m for three years to owners Patisserie Holdings plc, which the company said would provide “immediate liquidity”. He has also provided a further bridging loan facility of up to £10m. The firm said it had also raised another £15m by issuing new shares. The directors said the company had required an immediate cash injection of no…

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House of Fraser offered cash injection by Mike Ashley

Image copyright PA Struggling House of Fraser is understood to have been approached by Sports Direct founder Mike Ashley over a fresh investment deal. The sports chain owns an 11.1% stake in House of Fraser, which last month detailed plans to close 31 of its 59 shops as part of a rescue deal. According to Sky News, House of Fraser needs £50m to prevent it collapsing. But sources close to the department store chain have denied the chain’s survival is under threat. The department store chain has previously said it…

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