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Debenhams accelerates store closures after poor results

Debenhams is taking “decisive action” to generate cash, reduce debt and reshape its store estate after confirming significant losses in its preliminary results for the 52 weeks to 1st September.
While the retailer enjoyed good digital growth of +12%, it confirmed a pre-tax loss of £495.1m and an EBITDA drop of -27.5% (-35.6% in the UK, offset by international growth), while LFL sales fell by -2.3%.

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