Utilize the input text as a context reference, choose the right relationship between Debenhams and London from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

Debenhams (Other OTC: DBHSF - news ) led the falling stocks on the London market yesterday, down more than seven percent to 75.7p after a downgrade to “sell” from analysts at UBS (NYSEArca: FBGX - news ) .

Answer: headquarters_location