Finance

Debenhams confirms 50 store closures after record annual loss

By 2018-10-25T08:17:00

Debenhams

Source: Shutterstock/Jason Batterham

Debehnhams has announced plans to close 50 of its 166 stores and scrap its annual dividend as it revealed record £491.5m losses for the year to September.

The store closures, at as yet unnamed locations, will put up to 4,000 jobs at risk as chief executive Sergio Bucher said the company was “taking tough decisions” on locations where financial performance was likely to deteriorate over time.

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