This site uses cookies to help us manage and improve the website and to analyse how visitors use our site. By continuing to use the website, you are agreeing to our use of cookies. For further information about cookies, including about how to change your browser settings to no longer accept cookies, please view our Cookie Policy. Click for more info.

Debenhams to close 50 stores after record annual losses

Debenhams.jpgYesterday's announcement that Debenhams is to shut 50 stores across the UK has prompted questions around the department store in today's retail environment, which is increasingly becoming a digital market. The store recorded a loss of £491.5m in the year to September whilst previously saying it only planned to close 10 stores.

Harsha Wickremasinghe, Head of Business Intelligence at Arrowpoint Advisory, explains: "The embattled retailer has outlined hard-hitting plans to transform itself into a relevant retail entity for the 21st century but it has taken too long to address basic issues." In the piece on Cosmetics Business, Harsha discusses what the announcement highlights about the department store model.

Read Harsha's thoughts on the announcement here.

Harsha Wickremasinghe

Head of Business Intelligence

Phone: +44 20 7484 4748

Mobile: +44 7919 368409