Throughout the next month 19 Debenhams stores will be closing their doors, as the retailer tries to stay afloat.
The department store went into administration last year, with its ownership now in the hands of lenders including US investment firms and the Bank of England.
As a cost-saving measure, three Debenhams shops were closed in 2019, with 19 more to come this January.
Debenhams has long been a stalwart of the high street, selling everything from homewares to beauty to clothing. However, financial records show sales drops in recent years, as well as underlying earnings declining by 36.6 per cent to £65.9 million.
The turnaround plan – while a positive for the future of the retailer – is a negative for shoppers and employees alike.
The stores closing have been chosen in terms of their performance, with more shutting in later months (although these have not yet been announced).
It follows the likes of BHS and Mothercare, with the retail sector seeing administrations on a large scale as people begin to shop online.
If you’re worried about whether your local Debenhams is one of the ones closing this January, we have them listed here.
Debenhams stores closing January 2020
January 11
- Altrincham, Greater Manchester
- Kirkcaldy, Fife
- Wandsworth, London
- Birmingham The Fort
- Walton-on-Thames, Surrey
- Wolverhampton
January 15
- Chatham, Kent
- Slough, Berkshire
- Welwyn, Herfordshire
- Great Yarmouth, Norfolk
- Witney, Oxfordshire
- Stockton-on-Tees, Co Durham
January 19
- Ashford, Kent
- Canterbury, Kent
- Folkestone, Kent
- Southsea, Portsmouth
- Eastbourne, East Sussex
- Southport, Merseyside
- Wimbledon, London
The previous stores that were shut were in York, Haverfordwest and Orpington.
With 28 more to close on the horizon, there may be an even bigger dent in many high streets – particularly given the sheer size of many Debenhams.
Terry Duddy said: ‘Debenhams has a clear strategy and a bright future, but in order for the business to prosper, we need to restructure the group’s store portfolio and its balance sheet, which are not appropriate for today’s much changed retail environment.
‘Our priority is to save as many stores and as many jobs as we can, while making the business fit for the future.’
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source https://metro.co.uk/2020/01/04/debenhams-shops-shutting-department-store-announces-19-closures-britain-12000743/
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