The news was announced this morning.
Debenhams has confirmed that it will close up to 50 stores due to nearly £500 million in loss – the biggest loss in the shop’s 240-year history.
The closures will be implemented over a five-year period, with more then 4,000 jobs now at risk.
According to the Independent, chief executive Sergio Bucher said: “It has been a tough year for retail in 2018 and our performance reflects that. We are taking decisive steps to strengthen Debenhams in a market that remains volatile and challenging.
“We are taking tough decisions on stores where financial performance is likely to deteriorate over time.
“Debenhams remains a strong and trusted brand with 19 million customers shopping with us over the past year.
“With a strengthened balance sheet, we will focus investment behind our strategic priorities and ensure that Debenhams has a sustainable and profitable future.”
It is unknown whether it’s Irish stores will close.
