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Red Letter Days & Debenhams JV to focus on new vision

24 Aug '05

2 min read

London based gift seller Red Letter Days announced that it has entered into agreement with a famous departmental store Debenhams.

The new owners of gift experience company Red Letter Days, entrepreneurs Peter Jones and Theo Paphitis, have successfully secured the vital backing of the company's largest retail partner - Debenhams.

Red Letter Days experience vouchers will go back on sale with immediate effect across 117 Debenhams stores. All vouchers purchased via Debenhams whether purchased in the past or future will continue to be honoured.

Peter Jones stated, "Company is delighted Debenhams is back on board. They have worked hard to demonstrate a new vision for the business and explained in detail the huge commitment being made by both Theo and myself in turning this company around quickly. This is a major step towards meeting our objective of honouring all customer vouchers. They still have some work to do with a small number of suppliers but this is a watershed moment in the effort to get this business back on track."

The agreement with Debenhams follows news that more than 90 per cent of Red Letter Days experience suppliers have now agreed to work with the new company. This is the result of two-weeks of continuous contact and discussions with suppliers to introduce the new owners, agree new terms and discuss ways forward.

Jones added, "Our retail partners and suppliers are seeing the benefits of a long-term business relationship with Red Letter Days. This is great news in terms of our continuing relationship with Debenhams.

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