Debenhams to close five more stores

Five more Debenhams stores, based in Hammerson-owned centres, will close permanently once lockdown is lifted.

According to The Guardian, the stores based in Bullring, Birmingham and the Oracle shopping centre in Reading are among those which will not re-open.

Debenhams was placed in "light-touch" administration last month and since then its investors have been working to secure the future of its 142 stores.

It subsequently announced that seven stores (Truro, Stratford-upon-Avon, Salisbury, Westfield, West London, Warrington, Leamington Spa and South Shields) would be closed but that the future of 120 stores had been secured.

This left a question mark over 15 stores. Six of those have now been confirmed as closing while the department store has warned the Welsh government that it may be forced to close its stores in Cardiff, Swansea, Newport, Wrexham and Llandudno unless it reverses a decision not to allow rates relief on stores with a rateable value greater than £500,000.

The news comes as retail property giant Hammerson confirmed the £400m sale of its retail parks had also fallen through after Orion walked away from the deal.

Debenhams, which was formerly listed, was placed into administration for the first time last year and acquired by a consortium of its investors, known as Celine Jersey Topco.