- Saturday, April 27, 2024
By: Radhakrishna N S
British department store chain Debenhams on Thursday (25) said it planned to shut about one-third of its shops, many more than previously announced, signalling another blow to a retail sector faced with fierce online competition. Thursday’s announcement had been expected following recent reports, with suggestions that some 4,000 jobs could be at risk. Debenhams said in a statement that it was “closing up to 50 stores over three to five years, compared with the 10 previously identified”. “It has been a tough year for retail in 2018,” chief executive Sergio Bucher said in the statement. “We are taking decisive steps…
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