NEWS

19 Debenhams stores set to close this month

Published on: 7th January 2020

Closures will result in approximately 600 job losses.

As reported by ThisIsMoney.co.uk, Debenhams faces a make-or-break year as it begins a massive programme of store closures.

Three stores closed last year, 19 shops will shut their doors between 11th-25th January, and a further 28 will follow next year. The list of 19 includes stores in Eastbourne, Guildford, Wolverhampton and Canterbury.

Independent retail analyst Richard Hyman predicted this year would be crucial for many of Britain's high street retailers, saying: "Debenhams and House of Fraser will not end this year in the shape they are in today; at best they will be much smaller and at worst they won't exist at all."

He made the suggestion that Debenhams owners - a conglomeration of banks and hedge funds - have delayed its bleak reality, saying that in a way the chain has 'become a zombie'. Last year it announced that it would close its 50-worst performing stores using a company voluntary agreement (CVA).

Three stores, York, Haverfordwest and Orpington, closed last year. The remaining 28 will be chosen based on the outcome of crunch talks with landlords. Under the CVA, rents will also be cut across many of its remaining 163 stores.

Next week retailers will update the market on the crucial Christmas trading period although the Debenhams rescue deal means it is no longer required to hand out financial information.

Debenhams' chief executive, Stefaan Vansteenkiste, said the chain was working to implement a 'transformation' despite a 'challenging retail environment'.

Store locations and dates of closure

January 11th:

Altrincham, Greater Manchester; Kirkcaldy, Fife; Wandsworth, London; Birmingham,The Fort; Walton-on-Thames, Surrey; Wolverhampton.

January 15th: 

Chatham, Kent; Slough, Berkshire; Welwyn, Herfordshire; Great Yarmouth, Norfolk; Witney, Oxfordshire; Stockton-on-Tees, Co Durham.

January 19th:

Ashford, Kent; Canterbury, Kent; Folkestone, Kent; Southsea, Portsmouth; Eastbourne, East Sussex; Southport, Merseyside; Wimbledon, London.

RECENT ARTICLES

Friday Blog

Timing in life is everything…it’s the Friday Blog!

London Toy Fair

BTHA releases update on London Toy Fair

The Very Group reports strong annual revenue growth

Big Potato launches P for Pizza

Thames & Kosmos expands Kids First range

Asmodee turns to TikTok for Dobble brand campaign

Craft Buddy launches 2020 Christmas Crystal Art range

WHSmith requests rent decrease from landlords

Zee Productions

Zee Productions celebrates 1st anniversary with new puzzles

BlogOn Xmas Conference to go virtual