Debenhams to close 50 stores, announces record loss

News of the store closures comes as the retailer announced a record loss of £491.5m ($634m) for the year

UK-based department-store chain Debenhams is to close 50 stores in the next three to five years, which could result in 4,000 job cuts. The company had previously said that it could close 10 stores.

News of the store closures comes...

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