Debenhams is drawing up plans to shake up its property portfolio, in a move that could speed up the rate of store closures this year. Debenhams is drawing up plans to shake up its property portfolio, in a move that could speed up the rate of store closures this year. Debenhams previously ramped up its store closure plans, estimating that 50 will be shut over the next three to five years. But the use of a CVA could accelerate this further, with up to 20 store closures thought to be likely this year if the plans go ahead. Although his offer was turned down due to the conditions attached, it is understood that Mr Ashley remains engaged with Debenhams interim chairman Terry Duddy.

Source: Irish Independent February 04, 2019 16:41 UTC