Debenhams axe threat to 66 stores
BY JOSH LAYTON DEBENHAMS have earmarked a third of their 166 stores for possible closure under an emergency plan, reports claim.
The troubled department store are also said to be considering axing their dividend as they take drastic action to tackle their debts.
Ten sites were already set for closure but that could be increased if such a plan is accepted and depending on negotiations with landlords.
About 66 branches could go, experts said.
The retailers want to save about £30million by halting shareholder payments and another £70million from cutting back capital expenditure.
The move is expected to be announced alongside their annual results on Thursday.