Debenhams merchandising director Adele Calderwood has reportedly stepped down following yesterday’s news that the company’s insurers had pulled out.
Calderwood, who joined the company from Arcadia in 2004 and worked for the retailer for 14 years, will now depart according to reports by Drapers. Debenhams told Retail Sector it had no comment on the reports.
In departing, Calderwood follows Kate Ludlow-Edson, who previously held the merchandising director role and left the company last month to join Topman.
Fears have intensified regarding the department store’s future amid speculation that it could face closures or enter a CVA after appointing KPMG to help advise on restructuring the company. Sports Direct recently ruled out a move for the struggling retailer with it already holding a 30% stake.
Rumours of a CVA began in August when the company announced it was to cut 90 jobs as part of a restructuring plan to focus the business on key areas.