DEBENHAMS has announced plans to close up to 50 stores within its 165 strong portfolio as it struggles to deal with the company’s biggest loss in its 240-year history (£491.5 million).
The closures if applied could put thousands of jobs at risk. It is reported that the closures would take place over a three to five year period.
The difficulties at Debenhams follow a trend whereby a raft of retailers have also embarked on store closures programmes. These include New Look, Carpetright and Mothercare.