Debenhams has introduced right now that it expects to shut 22 of its shops in 2020. The closures will observe the shops persevering with to commerce throughout the 2019 Christmas interval. It comes because the high-street large introduced its Firm Voluntary Association (CVA) plan to restructure the shop portfolio. Will you still have the ability to spend your gift cards at Debenhams?
Debenhams entered administration on April 9 this yr.
The division retailer has beforehand mentioned that it might honour gift cards.
Because of this gift cards and vouchers are still legitimate, and it is potential to spend them on-line and in-store.
Debenhams at the moment has 165 shops in the UK.
Whereas 22 shops have been confirmed to shut, the retailer added that additional retailer closures can be confirmed in due course.
Terry Duddy, Govt Chairman of Debenhams, mentioned: “The problems dealing with the UK excessive avenue are very well-known.
“Debenhams has a transparent technique and a vibrant future, however in order for the enterprise to prosper, we have to restructure the group’s retailer portfolio and its steadiness sheet, which aren’t applicable for right now’s a lot modified retail surroundings.
“Our precedence is to save lots of as many shops and as many roles as we will, whereas making the enterprise match for the longer term.”
He suggested on the time: “Clearly, Debenhams is just not in essentially the most secure state in the meanwhile.
“So personally I would not be shopping for anybody any gift vouchers from there in the longer term (though that doesn’t imply a lot as I might at all times suggesting avoiding gift cards and vouchers wherever anyway).
“I might even be very cautious if I used to be ordering one thing now for supply a good period of time in the longer term, and shopping for any objects which may break down as a result of returns might be troublesome too if a agency goes bust.
“Having mentioned that, if Debenhams is on the proper value and proper place for you, and you need to purchase one thing there, there are methods to guard your self.
“If items are over £100, purchase them on a bank card – though do repay in full – in order that you get Part 75 safety, and in any other case pay on a debit card or bank card to get chargeback safety.
“I would certainly be wary of paying for any larger items with cash or cheque because that gives you no protection at all.”