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A crucial Christmas in store for three besieged UK retailers

Among those chains with the most at stake are Debenhams, House of Fraser and New Look

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Debenhams isn't yet under the financial stress of New Look or House of Fraser. But while the business generates cash and net debt is stable, demand isn't.

London

AFTER a year to forget for British retailers, investors are betting some of the UK's major chains now face a make-or-break holiday shopping season.

Among those with the most at stake are department-store operators Debenhams plc and House of Fraser Ltd, as well as fashion

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