United Finance plc - Closure of Debenhams Franchise Operations

On 2 June 2021, United Finance plc issued an announcement in relation to its franchise operations for the Debenhams brand in Malta. The company explained that following the closure of the Debenhams stores in the UK on 15 May 2021, and since the Debenhams stores in Malta are intrinsically tied to the UK for the granting of the international franchise as well as the supply of merchandise, the United Group decided to wind up the outlets of the Debenhams franchise in Malta.

United Finance noted that despite the prevailing challenges to business, it has sufficient financial resources to meet all of its obligations when they fall due. The Group will also continue taking all measures that it considers appropriate to ensure the long-term sustainability of its businesses.