News UK News

Debenhams to close 5 stores, 1000 jobs lost

The retail giant, Debenhams, is to close 5 of it’s stores after failing to come to an agreement with it’s landlords, resulting in the loss of 1000 jobs.

This means that the sites at shopping centres in Reading, Croydon, Birmingham, Leicester and Glasgow (all owned by the property company Hammerson) will not be reopening after the lockdown ends.

The shop chain was already in trouble due to shop closures and was trying to negotiate deals with the owners of 142 UK sites after being in administration. In April deals were made with the landlords of 120 sites however the Hammerson shops were not included.

Unfortunately 10 more shops, employing over 600 staff, are earmarked for closure while the future of another 7 hang in the balance.

Spread the RTN News!

Leave a Reply

Your email address will not be published. Required fields are marked *