Debenhams administration fears as shares suspended: Up to 50 stores closing – but which?

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Debenhams has made headlines in recent weeks, having issued another profit warning back in March, when shares plunged by 12 per cent. It’s believed that this week, the high street department store rejected a £150 million offer from Mike Ashley’s company. Under the Sports Direct CEO’s plan, the company would have underwritten the raising of £200 million, by issuing new shares. Debenhams has said it plans to make a further announcement today.

If Debenhams goes in to administration, will more stores close?

Debenhams confirmed up to 50 stores would close over the next five years, back in February this year.

It’s not known which locations will be affected, but a spokesperson told The Mirror that it would be the “least profiting” stores.

It’s thought that if Debenhams goes into pre pack administration, there would be no immediate plans for this figure to increase.

Debenhams has 165 stores in the UK.

When would Debenhams stores close?

Up to 50 stores are already ear-marked to close, over the next five years. It’s believed 20 of these could shut in 2019. The department store has so far not confirmed which stores are earmarked for closure.

A Debenhams spokesperson has said that should the company go into administration, any of its stores would be unlikely to close until the beginning of next year.

Why are Debenhams stores closing?

Debenhams have announced some plans for store closures this year, as part of a company restructure.

Last year, the retailer recorded a pre-tax loss of £491.5m.

If Debenhams goes in to administration, will more stores close?

Debenhams confirmed up to 50 stores would close over the next five years, back in February this year.

It’s not known which locations will be affected, but a spokesperson told The Mirror that it would be the “least profiting” stores.

It’s thought that if Debenhams goes into pre pack administration, there would be no immediate plans for this figure to increase.

Debenhams has 165 stores in the UK.

When would Debenhams stores close?

Up to 50 stores are already ear-marked to close, over the next five years. It’s believed 20 of these could shut in 2019. The department store has so far not confirmed which stores are earmarked for closure.

A Debenhams spokesperson has said that should the company go into administration, any of its stores would be unlikely to close until the beginning of next year.

Why are Debenhams stores closing?

Debenhams have announced some plans for store closures this year, as part of a company restructure.

Last year, the retailer recorded a pre-tax loss of £491.5m.

READ MORE: Tesco food counters CLOSE in 90 stores: FULL LIST of confirmed affected stores so far

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