Debenhams could shut down 20 stores in early 2020

ELIAS JAHSHAN | April 24, 2019

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The new owners of Debenhams are reportedly days away from launching a CVA which could include plans to shut down 20 stores in early 2020.According to Sky News, Debenhams will launch a CVA in the latter half of this week and have appointed KPMG to oversee it.Should this eventuate, a handful of the department store’s branches in its 165-strong UK store estate could close down after this year’s Christmas trading period. Sky News added that the initial round of closures – which places around 1000 jobs at risk –  form part of Debenhams’ already-announced plans to axe 50 shops in the next three-to-five years. The CVA will also entail rent reductions across the rest of Debenhams’ UK store estate.

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