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Gloucestershire Business News

Another three Debenhams stores to go

Debenhams has announced that three more stores won't reopen after lockdown restrictions are eased next week.

Gloucester's store is safe for now, but those at Milton Keynes, Watford and the Metrocentre, Gateshead, will remain closed, with the loss of 300 jobs, as reported by the BBC.

The department store chain said it had failed to agree new rental terms with landlord, Intu, which is also in financial trouble. But Intu said it was still in talks with Debenhams about the future of the three stores.

Last week, Debenhams set out plans to reopen more than 50 department stores in England and Northern Ireland when lockdown is eased from 15th June. The retailer has done deals with landlords to keep 120 stores open.

The group went into a 'light touch' administration in April, after coronavirus put further pressure on the business. The current management remain in place, while the company cuts costs and looks for new investment.

After April's administration, Debenhams said 17 stores would not reopen, including in Reading, Leicester, Swindon and Croydon.

Debenhams has been cutting jobs at its head office and closing in-store cafes in a bid to cut costs. More than 4,000 jobs will be lost as a result of the restructuring.

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