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Debenhams has named 22 of the stores it plans to close as part of their new plan by the new owners. The retailer says the store closures will begin next year and 1,200 staff will be affected by the first phase. Earlier this month lenders to Debenhams took control in a deal which wiped out…
Debenhams have secured a cash injection of £40 million to buy it extra time as it battles to secure a long-term deal. The department store has called it a “first step” towards a sustainable future. The firm issued three profit warnings last year and is taking with lenders over renegotiating its debts. It is expected…
This year, High Streets are facing a make-or-break situation as shoppers are turning online for their Christmas and Black Friday shopping. The number of items bought in stores has fallen in the last three months. Non-food items (such as clothes and homeware) in store sales have dropped by 2 per cent, on the other hand,…
Due to increased annual loss Debenhams have decided to close 50 stores, this leaves about 4,000 jobs of their 27,000 (UK) employees at risk. The department store has lost almost £500 million in the last year, the closure of the 50 stores will be an act to try and save the company. The closures are…
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