DEPARTMENT store Debenhams has announced it is reviewing the future of 10 of its stores across the country over the next five years.
The proposals, announced by recently-appointed chief executive Sergio Bucher, mean that 11 warehouses are earmarked for closure, alongside a number of its 176 stores nationwide.
The company’s only store in Gwent is in Friars Walk in Newport. There is also a Debenhams in Cardiff.
The firm has not said at this stage which stores or even how many will be closed.
Details of the plans came as the group announced a 6.4 per cent drop in pre-tax profits to £87.8 million for the six months to March 4.
A Debenhams spokesman said: “Debenhams’ CEO announced its interim results and future strategy, which includes looking at the store estate.
“Whilst it is stated that up to 10 stores will be considered for closure over the next five years, there will not be any immediate implications for any of the stores.”
Debenhams gave assurances that the overhaul was “not about job losses”, adding it wants to open four shops in the next few years.