High street giants Debenhams and HMV have become the latest UK retailers to announce that they will be closing stores across the country.
Debenhams, which fell into administration in April last year in order to reduce its debt, announced that it will be closing 19 stores between the 11th and 25th of January. 28 further stores are scheduled to close in 2021.
Debenhams chief executive Stefaan Vansteenkiste said in a statement: “We are working hard to implement the transformation of Debenhams.
“Despite a challenging retail environment, thanks to our colleagues’ hard work and our investor group’s commitment we are progressing with our turnaround.”
Music and entertainment retailer announced that three of its stores will shut before the end of the month – and new tenants have already lined up moves to take over the properties.
Further to that announcement, HMV revealed that there could be job losses at other stores across the country if no deals with landlords cannot be agreed.
A HMV spokesman said: “There are currently 10 stores where negotiations with landlords are ongoing and we are hopeful of securing new deals.
“The closures are no reflection on our superb staff and where we are not able to come to a new agreement or relocate staff within the business elsewhere, unfortunately this does mean some of our staff will lose their jobs.”
The 10 stores subject to negotiations are in the Birmingham Bullring, Cribbs Causeway Bristol, Leeds Headrow, Edinburgh Ocean Terminal, Glasgow Braehead, Grimsby, Merryhill, Reading, Sheffield Meadowhall and Worcester.