Skip navigation

Gloucestershire Business News

Troubled Debenhams calls in KPMG

Dark clouds continue to hang over the fate of one of the most significant names in retail in Gloucester.

A long-standing favourite of shoppers in the county's capital, Debenhams Gloucester shop is its last surviving county department store.

Now news has broken that the business has called in accountancy firm KPMG to help with its already reported restructure - a move seen as significant.

Whether it will mean the clothing, cosmetics and homeware retailer will undergo a company voluntary agreement (CVA) - as others have done of late - is unclear as yet.

Reports suggest a CVA would see the business close a number of its stores and reduce rents in others. There is no details as yet.

It is more bad news for staff at the business who only last month learned Debenhams was rolling out a redundancy consultation with an expected 90 jobs to go - mostly in management.

Back at the beginning of 2018 it also warned that full year profits were likely to be in the region of £35 million to £40 million, not the £50.3 million first predicted. That news also arrived with the announcement it expected to cut 320 managerial roles.

More profit warnings have followed.

It is business as usual at Debenhams in Gloucester.

Related Articles

Versarien's revenues halve and losses rise Image

Versarien's revenues halve and losses rise

Forest of Dean-based advanced engineering group Versarien saw its revenues halve last year.

Gloucestershire company launches same-day service Image

Gloucestershire company launches same-day service

Gloucester-based Freemans Event Partners has launched a brand-new around-the-clock foodservice logistics offer.

Gloucester business expands at Elmbridge Court Image

Gloucester business expands at Elmbridge Court

Just three offices are now available for rent at Elmbridge Court, following the latest letting.

Cirencester town centre to deliver improved parking Image

Cirencester town centre to deliver improved parking

Better parking and traffic control improvements for Cirencester residents and businesses.

Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.