Find in the news:
BY COUNTRY

Debenhams on the verge of closing 60 stores and dismissing 12 thousand employees



The British Debenhams network, which operates 124 department stores, is going through some bad times.
Debenhams store sign - Depositphotos

The pandemic has exacerbated the already precarious financial situation of the network. In April, the company, for the second time in two years, went into external administration to regulate relations with creditors. 

According to the restructuring plan developed for potential customers, the company expects to close from 20 to 60 stores of the chain in the near term. That means a significant reduction in the number of staff, which amounts to about 12,000 people. 

Over the past few months, several companies have expressed interest in buying Debenhams. At the moment, the most likely buyer is the retailer JD Sports. The most exciting thing for JD Sports is the website of Debenhams, a company that sells sports and everyday clothing and will likely be able to fill the space by resorting to agreements with other brands. That includes more than half of the department stores operating today. 

Simultaneously, JD Sports shares have fallen by more than 6% after it became known that it was in exclusive negotiations to buy Debenhams. Such a step will bring the group to a more challenging market, attempting to gain a foothold.

The deal will likely be announced just before the New Year holidays. However, any decisions on the closure of stores and related job cuts are unlikely to be made before the end of the holiday peak trade. If the deal fails to be concluded, it may lead to the Debenhams network's liquidation, which has a history dating back to 1778.

Photo credit: depositphotos.com.

More about shopping malls in the United Kingdom



Jul 20, 2021, USA:
LVMH will acquire a controlling stake in Off-White, with its founder retaining 40%.
Jul 20, 2021, USA:
The iconic lingerie brand announced its intention to open three retail outlets with a new format this autumn.
Jul 19, 2021, Spain:
Amid the surge in the online retail model, Inditex is betting on a hybrid model that combines traditional stores and online ordering options.
Jul 14, 2021, United Kingdom:
The temporary For You House store will not sell any products - it will be a place for meetings and themed workshops.
Jul 13, 2021, USA:
The global chain of department stores will sell fashion brands aimed at a younger audience.
Jul 13, 2021, China:
Clothing and footwear retailer Shein has become the most prominent fast-fashion retailer in the U.S.
Friend
and Follow
Central Children's Store GLA:370 192 SF
ADDRESS: Teatralnyi proezd, 5
Russia . Moscow region
Central Children's Store
AEON MALL Okinawa Rycom GLA:839 585 SF
ADDRESS: 901-2300 Tochi-kukaku seirichinai Awase, Kitanakagusuku Village, Nakagami District, Okinawa
Japan . Ginowan
AEON MALL Okinawa Rycom
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona
Hillcrest Mall GLA:585 758 SF
ADDRESS: 9350 Yonge St, Richmond Hill, ON L4C 5G2
Canada . Richmond
Hillcrest Mall


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us