Debenhams has confirmed that it will close 22 stores in early 2020. The high-street giant announced a Company Voluntary Arrangement (CVA) today. It comes after the retailer entered administration on April 9, 2019. Debenhams currently has 165 stores in the UK and a website for shoppers to purchase items online.
Debenhams store closures – full list
Welwyn Garden City
Debenhams has a clear strategy and a bright future, but in order for the business to prosper, we need to restructure the group’s store portfolio and its balance sheet, which are not appropriate for today’s much changed retail environment
Terry Duddy, Debenhams
Terry Duddy, Executive Chairman of Debenhams, said: “The issues facing the UK high street are very well known.
“Debenhams has a clear strategy and a bright future, but in order for the business to prosper, we need to restructure the group’s store portfolio and its balance sheet, which are not appropriate for today’s much changed retail environment.
“Our priority is to save as many stores and as many jobs as we can, while making the business fit for the future.”
Amid the store closure news, where should you spend your gift card and vouchers?
Debenhams has previously said it will continue to honour gift cards.
At the time of writing, the 165 Debenhams stores in the UK remain open, as does its website.
Therefore, it’s possible to spend your Debenhams gift cards and vouchers online and in your local store.
While Debenhams gift cards and vouchers remain valid now, Martin Lewis has recommended avoiding purchasing them for the future.
“Clearly, Debenhams is not in the most stable state at the moment,” the founder of MoneySavingExpert.com has previously said.
“So personally I wouldn’t be buying anyone any gift vouchers from there in the future (although that doesn’t mean much as I would always suggesting avoiding gift cards and vouchers anywhere anyway).”
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