Debenhams are reported to be looking at entering into a company voluntary agreement, which could bring forward the closures of around 20 stores this year.
The retailer is currently in talks with banks to up its borrowings ahead of its quarterly rent payment, which is due on March 25th.
Debenhams confirmed in October that it would increase its planned store closures from 20 stores to 50.
A CVA would see this process ramped up, and 20 stores could be closed as early as this year.
Debenhams currently have 165 stores and employ around 25,000 people.
