Stockon branch of Debenhams hit by closure news

Stockton Debenhams will be one of the 22 stores across the country to close as part of the company’s plans to save the chain.

The department store on the town’s high street will close next year at the earliest, with 1,200 staff across the country affected by the closures.

Debenhams executive chairman Terry Duddy explained: “Our priority is to save as many stores and as many jobs as we can, while making the business fit for the future.”

“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.”

The news follows the closure of the town’s Marks and Spencer branch last year, and comes in the midst of Stockton’s plans for the regeneration of the high street, which include the revamping of the historic Stockton Globe theatre.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →