Debenhams one of the renowned public quoted company in the United Kingdom specializes in the manufacture and sale of Clothing, home accessories, cosmetics and toiletries.
The Company Founded in 1813, initiating with a small enterprise and has now emerged into a multinational corporation. Debenhams has outlets, not only in the United Kingdom but also in and around Europe, Asia and Africa. It’s belonging currently 165 stores and employs 27,000 people.
But According to the latest news the department store chain might shut down a number of UK stores by this year 2019.
Richard Lim of Retail Economics: told the BBC in October 2018 that Debenhams is operating in the part of the market under the most intense amount of pressure.
He said: “Put simply, department stores are incredibly expensive to run. The combination of too much space, inflexible leases and spiralling operating costs are set against a backdrop an accelerating behavioral shift towards online and experiences.
“This is eroding their profitability and changes in the business need to occur at a pace if they are to survive.”