So much for the Tory mismanagement of our country! Step down Conservative Party!
Debenhams confirms 50 stores will shut as 4,000 staff face redundancy
The future of stores in Walsall, Wolverhampton, Merry Hill and Birmingham is in doubt.
Debenhams has unveiled plans to axe up to 50 high street shops, putting around 4,000 jobs at risk, as profits plunged at the struggling department store chain.
The group said the closures will take place over a three to five-year period and the announcement comes alongside a dire set of financial figures.
Debenhams has stores in Wolverhampton, Walsall, Merry Hill, Kidderminster, Lichfield and at the Bullring in Birmingham.
Wolverhampton South East MP Pat McFadden said this morning: “This is obviously concerning as Debenhams is the anchor tenant in the revamped Mander Centre.
“The investment that brought them here was very important to the city. The High St is really hurting in retail terms as we have seen from the difficulties of a number of chains. We have to hope that the Wolverhampton store will be OK.”
So much for the end of austerity!