DEBENHAMS has named 22 out of 50 stores which will close as part of its plan to save the chain.
The branches are expected to close early next year and 1,200 jobs are at risk, according to the BBC.
Which Debenhams stores are closing and how many will shut?
At the end of 2018 it was revealed that Debenhams was set to close 50 of its stores.
Today, the chain confirmed that the first set of stores will shut early next year.
They are:
- Altrincham
- Ashford
- Birmingham Fort
- Canterbury
- Chatham
- Eastbourne
- Folkestone
- Great Yarmouth
- Guildford
- Kirkcaldy
- Orpington
- Slough
- Southport
- Southsea
- Staines
- Stockton
- Walton
- Wandsworth
- Welwyn Garden City
- Wimbledon
- Witney
- Wolverhampton
Debenhams is continuing to trade and will not disappear from the high street altogether.
Of the 166 stores in the UK the 50 least profitable ones are due to be shut, as they make up less than 15 per cent of the 240-year-old chain's overall annual profits.
Where does Debenhams stand now?
Earlier this month Debenhams announced a pre-pack administration deal.
The retailer, which employs 25,000 staff, is now in the hand of lenders as part of this process.
The deal doesn't mean that Debenhams will disappear from the high street but some stores will still close.
A pre-pack administration is an insolvency process for a business to sell its assets before appointing administrations.
A "pre-pack administration" is an insolvency process for a business to sell its assets before appointing administrations.
It is a powerful way of selling on a business to a third part of buyer.
All 166 Debenhams stores will continue to trade, although 50 branches have already been ear-marked for closure.
As part of the deal Debenhams bosses will also renegotiate rents with landlords to help tackle funding problems.
Are the stores still taking gift cards?
Customers are still able to spend their gift cards as stores will continue to trade as normal.
However shoppers have been urged to use any gift cards they have while the retailer is still accepting them.
Gift cards, orders and returns are still being accepted as usual.
MoneySavingExpert.com founder Martin Lewis warned shoppers not to buy any new gift cards from the retailer.
He said: "Clearly, Debenhams is not in the most stable state at the moment. So personally I wouldn't be buying anyone any gift vouchers from there in the future."
Mr Lewis also says shoppers should be careful about what they order or buy from the retailer and recommends they make purchases on card so they're protected if something goes wrong.
Why is Debenhams closing some of its stores?
It's believed to be a combination of increasing rents, business rates and a rise in online shopping.
Richard Lim of Retail Economics, told the BBC in October 2018 that Debenhams is operating in the part of the market under the most intense amount of pressure.
He said: "Put simply, department stores are incredibly expensive to run. The combination of too much space, inflexible leases and spiralling operating costs are set against a backdrop an accelerating behavioural shift towards online and experiences.
"This is eroding their profitability and changes in the business need to occur at a pace if they are to survive."
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