Jun 9, 2020
Debenhams to close more stores with the loss of 300 jobs
Debenhams is closing another three stores as the retailer grapples with falling High Street sales made worse by the coronavirus lockdown. Stores at Milton Keynes, Watford and the Metrocentre, Gateshead, will not re-open after lockdown restrictions are eased, meaning about 300 job losses. As part of a restructuring, Debenhams has struck deals with landlords to keep 120 stores open. In addition to store closures, Debenhams has been cutting jobs at its head office and closing the majority of its store cafes in a bid to cut costs. Debenhams collapsed into what is described as a "Light touch" administration, where the current management remains in place while the business cuts costs and finds fresh investment.
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