Debenhams to close 50 stores

by TnP Staff
Published: 25 October 2018, 08:44
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About 4,000 jobs to go

Debenhams employees woke to the worst possible news this morning with the revelation that the chain is set to close up to a third of its 166 stores – meaning about 50 Debenhams will shut.

The department stores posted record annual losses, revealing that in the year to September it lost £491.5m compared to profits of £59m the previous year.

The stores due to shut have not been revealed. Debenhams boss Sergio Bucher said they had identified a “profitable core” of up to 100 stores which account for more than 80 per cent of the chain’s profits.