All we know on the 50 Debenhams stores closing down - and when - News 247

Опубликовано: 12 Июнь 2026
на канале: Choe China Vlog

Britain's biggest department store Debenhams has gone into administration - leaving 25,000 workers fearing for their jobs, and many high streets at risk of losing a major outlet. The company was handed over to administrators FTI Consulting on Tuesday morning - who will now reevaluate its assets, debts and make cuts to save the ailing business from collapse. Despite going into administration, it will continue to trade - with gift cards still valid across stores and online. As it currently stands, Debenhams has 166 stores in the UK - it employs thousands of workers across its branches, head office and warehouses. However, about 50 branches have been earmarked for closure in the future. These were originally announced in October and planned for the next three to five years, a dozen are expected to close next year. Not all branches are at risk though - consultants will first focus on renegotiating rents with landlords to before making any drastic closures. Debenhams chairman Terry Duddy said: "We remain focused on protecting as many stores and jobs as possible, consistent with establishing a sustainable store portfolio in line with our previous guidance. "In the meantime, our customers, colleagues, pension holders, suppliers and landlords can be reassured that Debenhams will now be able to move forward on a stable footing." A spokesman for the company's pension schemes said the schemes had been transferred to the newly incorporated company. "Members can therefore be reassured that the schemes are carrying on as usual." Who now owns Debenhams? The chain's lenders - made up of high street banks and US hedge funds - have now taken control of it and will look to sell the business on, while shareholders will lose their investments. Even Mike Ashley's near-30% stake in the company, which cost about £150million to build up, has been wiped out. Current owners include Barclays and Bank of Ireland, as well as Silver Point and GoldenTree. Which Debenhams stores are closing? Towards the end of 2018, Debenhams announced it was increasing its store closure plans from 10 to 50. On Tuesday, it confirmed the same 50 are earmarked for closure - but could not clarify where these would be or when they'd close. It is estimated the cuts will affect around 4,000 jobs. The first wave of closures, thought to be 12, are expected to happen next year. Speaking to Mirror Money in October, a Debenhams spokeswoman told us the closures are part of a three to five year plan that will re-shape the 240-year-old chain. Of all 166 in the UK, 50 of stores that "could be the least profiting" over the next five years are the ones at risk - these make up less than 15% of the chain's overall annual profits. A spokeswoman added that there are various types of stores that could be classed as safer than others. It said that the most at risk Debenhams branches will be the smaller ones that tend to bring in the least takings. Speaking about the ones most likely to stay, it named