Debenhams in Norwich and King's Lynn to stay open
PUBLISHED: 10:37 26 April 2019 | UPDATED: 11:45 26 April 2019
Debenhams in Norwich and King's Lynn are to remain open, after the chain announced the closure of 22 stores across the UK next year as part of a major restructuring.
But the store in Great Yarmouth is to close, listed as one being shut down next year with up to 1200 jobs lost nationwide.
Stores in Canterbury, Guildford, Wolverhampton and Kirkcaldy are also among those to close.
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Earlier this month lenders to Debenhams took control in a deal which wiped out the investments of shareholders.
The new owners include Barclays and Bank of Ireland, as well as US investment firms.
“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,” said Terry Duddy, Debenhams executive chairman.
“Our priority is to save as many stores and as many jobs as we can, while making the business fit for the future.”