Debenhams, which appointed advisory organization FRP Advisory as directors final week, explained it experienced agreed terms with landlords on above a hundred and twenty of its 142 retailers, but confirmed that an first 7 would near forever.
Chief executive Stefaan Vansteenkiste explained: ‘“I’m delighted with the development we are producing with our landlord discussions which demonstrates the pragmatic perspective the broad bulk of them are having of the present sector situations.
”We have agreed terms on the broad bulk of our United kingdom retailers and talks are proceeding positively on the remainder, positioning us to reopen these retailers when government restrictions permit.
”Regrettably, we have been not able to reach arrangement on 7 retailers and these will not be reopening, and I’d like to specific my many thanks to our colleagues in these retailers at what I know is a tough time for absolutely everyone.”
The retailers established to near are:
- Leamington Spa
- South Shields
Drapers understands there could be far more retail store closures dependent on landlord conversations.
It follows the information that the department retail store has liquidated its Irish business.