Debenhams to name ex-House of Fraser and Game executive Mark Gifford as chair

The embattled department store chain, which fell into the hands of lenders earlier this year after slumping into administration, could confirm the appointment by the end of this week, Sky News reported.

Gifford would become chair of Debenhams’ holding company, Celine Holdings.

His arrival would add some much-needed retail experience to the board as the retailer prepares for the crucial Black Friday and Christmas trading periods.

Gifford spent more than a decade at Debenhams’ department store rival House of Fraser, prior to his departure in 2015. He went on to serve as chief financial officer at Game and now holds a number of board roles.

He is a non-executive director at Ann Summers’ parent company GGI and chair of Radley.

Should he be parachuted into the role as expected, Gifford’s first priority will be to assist Debenhams’ new boss Stefaan Vansteenkiste during the vital golden quarter.

Restructuring expert Vansteenkiste, who was poached from Alvarez & Marsal during the summer, has been tasked with steering Debenhams through the trading period amid turbulent conditions both on the high street and within its own business.

Debenhams was forced into administration in the spring and has launched a company voluntary arrangement in a bid to transform its fortunes.

It can now press ahead with that plan to close around 50 stores and shed thousands of jobs after a legal challenge to the move, funded by Mike Ashley’s Sports Direct, was rejected by the courts.

Ashley, who previously held a 29% stake in Debenhams, had launched a string of proposals that would have given him control of the chain, before it fell into the hands of banks.

Earlier this month, Retail Week revealed that the department store chain had secured £50m in additional funding to help it trade through the Christmas period as it ramps up its recovery bid.