22 DEBENHAM STORES TO CLOSE ACROSS UK
7 months ago 186 Carltherave

DEBENHAMS TO CLOSE 22 OF 50 STORES IS YOUR STORE AFFECTED?

Debenhams has reported they are closing 22 stores in a ditch attempt by the new owners to revive the Department store chain. 


Debenhams has said, in a statement made to BBC News, that their sales has fallen 7.4% over the last 26 weeks to March 2019.  


Earlier this month the lenders to Debenhams took control in a deal which wiped out their investments of shareholders. 


                                                                                               180831_Debenhams_Assets-889x500.jpg


IS YOUR STORE CLOSING?

The list below is the official list of 22 UK stores closing in 2020

1. Altrincham

2. Ashford

3. Birmingham Fort

4. Canterbury

5. Chatham

6. Eastbourne

7. Folkestone

8. Great Yarmouth

9. Guildford

10. Kirkcaldy

11. Orpington

12. Slough

13. Southport

14. Southsea

15. Staines

16. Stockton-on-Tees

17. Walton-on-Thames

18. Wandsworth

19. Welwyn Garden City

20. Wimbledon

21. Witney

22. Wolverhampton


SO WHAT WENT WRONG?

With the growth of E Commerce (online shopping), Debenhams expanded their stores at the wrong time in the early 2000's which left them in tons of debt. 


The lenders bought Debenhams out of administration earlier this month.  The founder of Sports Direct, Mike Ashley, was looking at buying the chain out but got turned down because of his approaches. He also wanted to become Chief Executive. 


The new owners have now announced their store closure programme under a process known as a Company Voluntary Arrangement (CVA), which also allows them to renegotiate rents at stores that remain open.


What's your thoughts on this? is your store listed?  Tell us in the comments!

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Comments
Jack
7 months ago
Surprised the Nottingham one isn't closing, not seen a customer in there ever
Carltherave
7 months ago
this does not affect me personally as Derby isn't on the list otherwise i would panic.
Doron
7 months ago
rip rip