Debenhams to cut selling space
Debenhams chairman Terry Duddy has said that at least thirty of Debenhams remaining stores need to be smaller if they are to survive. This is in addition to the shuttering of the first 50 stores which were approved for closure via its CVA. Many of Debenhams stores operate from five floors whereas Duddy said that a three floor store model was going to be more realistic and that the optimum size would be 100,000 sq.ft. rather than 200,000 sq.ft.. Surplus space could be converted to other use such as cinemas Duddy was reported as saying.
Debenhams, in common with other department store chains has seen footfall and sales plummet in recent years, and with its 165 stores employing over 25,000 members of staff it remains a work in progress to turn it around.