Month-long Waits for Refunds as Debenhams Tries to Refinance

  • Debenhams customers waiting up to a month for refunds
  • Refund delays amid falling sales and refinancing efforts
  • Social media complaints from affected shoppers
  • Company acknowledges slower refund process
  • £175m loan commitments being discussed

Debenhams customers have been experiencing significant delays in receiving refunds, with some waiting up to a month for their money after returning orders. The fashion giant, which includes brands like Boohoo and PrettyLittleThing, is currently attempting to refinance amid declining sales. Many shoppers have taken to social media to express their frustration over the slow refund process, with one customer still awaiting £160 from an order sent back on May 1st. Debenhams Group, formerly Boohoo, admitted that refunds are taking longer than usual but did not provide a reason for the delay. The company is in discussions to replace up to £175 million of borrowing with new loan commitments, including £125 million from refinancing an existing two-year loan taken out in October. Debenhams Group sales fell 16% from £1.46 billion to £1.22 billion in the 52 weeks leading up to February 2021.

Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about Debenhams’ refund issues and the company’s financial situation without any clear signs of sensationalism or opinion masquerading as fact. However, it could be improved by providing more context on the overall financial situation of the company and including sources for some statements.
Noise Level: 3
Noise Justification: The article provides relevant information about Debenhams’ refund issues and the company’s financial situation but lacks in-depth analysis or actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: No
Financial Rating Justification: The article discusses Debenhams’ financial situation, including falling sales and its attempts to refinance, which are relevant to financial topics. However, it does not mention any specific impact on financial markets or companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

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