Debenhams makes record annual loss and plans up to 50 store closures


Debenhams

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Reuters

Debenhams has confirmed record annual losses and said it will close up to 50 under-performing stores.

In the year to September it lost £491.5m, against profits of £59m the year before.

The troubled department store chain, which has 166 branches, had previously said it planned to close 10 stores.

Boss Sergio Bucher said the company was “taking tough decisions” on stores where financial performance was likely to deteriorate over time.



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