Shareholders in Debenhams are preparing to place the 242 year-old department store chain into administration as they seek to protect the business from creditors during the COVID-19 pandemic. Sky News has learnt that the retailer, which employs about 22,000 people, could file a notice of intention to appoint administrators as early as next week. KPMG, the accountancy firm, is understood to be among those on standby to handle the process.