Debenhams announced on Wednesday that six of its stores will not reopen, impacting more than 300 jobs and losing Oxford Street another of its most identifiable fixtures.
The department store entered administration in April, and after failing to secure a rescue sale in December began its liquidation process. The company has said that it will continue to sell stock online.
Debenhams’ administrator, FRP Advisory, is reportedly still in talks with potential purchasers for all or part of the business, but the company announced that it has been unable to agree on a lease extension with the landlords of its Oxford Street store and that as a result, this store will not be reopening.
The store’s financial woes pre-date the COVID pandemic and reflect the stark difficulties for high street stores in an era where customers often prefer to shop online.
The administrators have said that they still intend to reopen as many stores as possible to try to sell off stock.
Other branches to remain closed will be in Portsmouth, Staines, Harrogate, Weymouth and Worcester.
Locally, United Group – the parent company of Debenhams in Malta, said the store would continue to operate as usual
Main image: Debenhams
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The UK is the only G7 nation whose economy is still smaller than it was before the pandemic