Debenhams to Close 22 Stores Next Year, Threatening 1,200 Jobs
- U.K. retailer in talks with landlords to reduce store rents
- Department-store chain’s sales fell 5 percent for half year
Shoppers enter a Debenhams Plc department store in London.
Photographer: Luke MacGregor/BloombergThis article is for subscribers only.
Debenhams, the embattled U.K. department-store chain that was taken over by its lenders earlier this month, plans to close as many as 22 stores next year and reduce rents on others in a bid to stay afloat.
The 241-year-old retailer is seeking to shut the outlets as part of a previously announced plan for about 50 closures, Debenhams said in a statement Friday. The initial shutdowns will affect about 1,200 jobs, the company said.