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Debenhams in Newbury escapes closure list

Debenhams in Newbury has not featured in a list of 22 stores across the country the chain is planning on closing.

This morning the chain revealed that stores in Witney, Slough and Guildford are among those that will shut their doors next year.

Terry Duddy, Debenhams executive chairman, said: "Debenhams has a clear strategy and a bright future, but in order for the business to prosper, we need to restructure the group's store portfolio and its balance sheet, which are not appropriate for today's much changed retail environment.

"Our priority is to save as many stores and as many jobs as we can, while making the business fit for the future."

Although it’s good news for the time-being, the chain has said that it expects to close a total of 50 of its outlets as it tries to turn around its fortunes.

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