Fears for Debenhams in Sheffield, Doncaster and Meadowhall as firm announces plans to close 50 stores
CRIME: Sheffield gym owner Ross Burkinshaw gives thief three days to admit break-in The firm said the closures will take place over a three to five year period although none of the stores affected have yet been announced.
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Hide AdDebenhams operates stores on The Moor in Sheffield, at Meadowhall and in the Frenchgate Centre, Doncaster.
The closure plan will put around 4,000 jobs at risk.
The company lost £491.5 million in the year to September, with the firm blaming store and lease provisions, IT costs and impairment charges.
Last year the company made a £59 million profit.
Boss Sergio Bucher said: "It has been a tough year for retail in 2018 and our performance reflects that. We are taking decisive steps to strengthen Debenhams in a market that remains volatile and challenging.
"We are taking tough decisions on stores where financial performance is likely to deteriorate over time.
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Hide Ad"Debenhams remains a strong and trusted brand with 19 million customers shopping with us over the past year. With a strengthened balance sheet, we will focus investment behind our strategic priorities and ensure that Debenhams has a sustainable and profitable future."
More to follow.