Retail chain closes its only Australian store

Department store retail chain, Debenhams, has made the decision to close its only Australian store.

According to Retail Week, the Melbourne store, which opened in 2017, will stop trading by the beginning of next year. It is, however, expected to maintain an online presence in the country. 

Although a spokesperson confirmed the closure in Australia, three new Debenhams stores are set to open across the Middle East in Abu Dhabi, Qatar and Oman.

“The international strategy is to consolidate and grow in those markets we see a profitable opportunity in,” the spokesperson said.

Earlier this month, the retail chain was given permission for creditors to implement a financial restructuring plan – which could see at least 22 stores close, with 1,200 jobs at risk.