Debenhams, which appointed advisory firm FRP Advisory as directors final week, stated it experienced agreed conditions with landlords on over 120 of its 142 merchants, but verified that an original 7 would shut completely.
Chief government Stefaan Vansteenkiste stated: ‘“I’m delighted with the progress we are building with our landlord discussions which reflects the pragmatic perspective the vast the greater part of them are taking of the latest current market ailments.
”We have agreed conditions on the vast the greater part of our United kingdom merchants and talks are proceeding positively on the remainder, positioning us to reopen these merchants when authorities laws allow.
”Regrettably, we have been not able to get to settlement on 7 merchants and these will not be reopening, and I’d like to categorical my thanks to our colleagues in these merchants at what I know is a tricky time for absolutely everyone.”
The merchants established to shut are:
- Leamington Spa
- South Shields
Drapers understands there could be more retail store closures dependent on landlord conversations.
It follows the information that the department retail store has liquidated its Irish business.