A daring rescue attempt being drawn up to save Debenhams from going bust could cost more than 10,000 job losses, dealing the biggest blow to the high street since the collapse of BHS.
The Daily Telegraph understands that the chain has earmarked as many as 90 of its high street stores for closure, more than half the current total, as part of a radical turnaround plan.
Debenhams has 165 shops in the UK and Ireland, and 26,000 employees. It has said publicly that around 50 stores could be jettisoned but the board has quietly identified another 30 to 40 that could be offloaded as it seeks to focus on the most profitable ones.
Separately The Sunday Times has long read on the recent board changes initiated by Mike Ashley, and the 200-year old chain’s “desperate fight for survival”.
