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Debenhams will permanently close down six of its stores in the UK, including the flagship branch on London’s Oxford Street. This would impact 320 jobs.
- The branches at Portsmouth, Weymouth, Worcester, Staines and Harrogate will be closed soon.
- The company was hoping to reopen its Oxford Street branch to finish selling off stock but was unable to extend its lease for the site.
- Debenhams is in administration since December and has axed 6,500 jobs in 2020. It started winding down its operation with plans to finally close all its 124 stores.
- JD Sports chain, which was in active talks to acquire the company, pulled out of the talks after the collapse of Arcadia, having concessions within Debenhams.
- However, joint administrator to Debenhams and Partner at FRP Advisory, Geoff Rowley, had reportedly said that talks between interested parties over other proposals are going on for the future of Debenhams.
- Earlier, Debenhams said that its online store in Ireland has stopped taking orders due to complications of Brexit. The company shut its webstore as VAT and import duties were supposed to be added to goods made or containing any components that were made in the countries outside of the UK or the EU.
