Debenhams- which has branch in Chesterfield- to close up to 50 stores

Thousands of jobs are at risk after Debenhams, which has a branch in Chesterfield, announced plans to close up to 50 of its stores.

Thursday, 25th October 2018, 8:40 am
Updated Thursday, 25th October 2018, 9:43 am
Debenhams was founded in 1778.

It comes after the department store chain announced it had made a record annual loss of £491.5m, compared to a £59m profit the year before.

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It is not known if the Chesterfield store, at Ravenshead Retail Park, is one of the 50 out of 166 sites earmarked for closure.

It is understood that around 4,000 jobs are at risk nationally.

Debehnhams boss Sergio Bucher said the stores that were being considered were ‘currently contributing positively’ to the business but added: “However, rolling forward current trends, we do not believe they will remain profitable in future years and therefore we intend to exit these stores over the next 3-5 years.”