Debenhams in the UK to slash 1,400 jobs!
News by Editorial Team 07 May 2020
British department store Debenhams take a hit due to coronavirus and plans to shut its five stores in Hammerson, as it was not able to agree on rent terms with the mall operator. The stores shut down would lead to about 1,400 job cuts. Amid the lockdown in the UK, retail property owners and tenants have been working together to defer rent payments and find feasible solutions that would allow shops, businesses, and landlords to ride out the rough times.