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Debenhams announced the closure of 22 stores early next year, putting 1,200 jobs at risk.
Here is the complete list:
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Altrincham
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Ashford
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Birmingham Fort
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Canterbury
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Chatham
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Eastbourne
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Folkestone
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Great Yarmouth
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Guildford
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Kirkcaldy
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Orpington
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Quagmire
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Southport
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South Sea
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Staines
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Stockton
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Walton
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Wandsworth
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Welwyn Garden City
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Wimbledon
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Witney
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Wolverhampton
The chain of department stores plans to close a total of 50 of its worst-performing stores, but has not yet confirmed the location of the other stores in jeopardy.
Terry Duddy, Executive Chairman of Debenhams, said: "The problems facing Britain are well known. Debenhams has a clear strategy and a bright future, but for the business to prosper, we need to restructure the group's store portfolio and its balance sheet, which are not adapted to the current retail environment that has changed a lot. Our priority is to save as many stores and jobs as possible while preparing the company for the future. "
Debenhams, which employs 25,000 people, was taken over by its lenders a fortnight ago in a pre-pack administration that wiped out its shareholders. New Owners, a consortium of banks and hedge funds, launch an extensive store closure program as part of an insolvency process known as a Voluntary Enterprise Agreement (CVA) before the end from this week.
In March, the indebted credit chain secured £ 200 million in new loans. Until now, the 166 Debenhams UK stores have continued to trade normally. The first tranche of 22 stores to be closed employs 1,200 people and will be closed after Christmas.
An increasing number of retailers, struggling with online sales, are using AVCs to reduce their presence on the streets and reduce rent bills. Considered a last resort for chains in trouble, the plan must be approved by the owners and other creditors.
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