Debenhams has issued another profit warning this morning.
It comes after a number of reports that the department store will close 50 stores.
There has been a further slump is sales for the high street brand, profits sliding six per cent in the 26 weeks to 2 March.
Should you spend your vouchers in store now?
Debenhams: Closing warning - ‘spend your gift card now’ amid profit warning
The Guardian reported Debenhams chief executive Sergio Bucher said: “Our priority is to secure the best outcome for the business and all our stakeholders, while minimising the number of store closures and job losses.
“To do this, as we have said before, we will need the support of both landlords and local authorities to address our rents, rates and lease commitments.”
However, a financial expert has urged Britons to spend gift cards or any store credit with the company now.
Martin Lane, Managing Editor of money.co.uk told Express.co.uk: “Debenhams has truly got their work cut out for them to rejuvenate the brand and shake its fading image.
“This new profit warning continues to raise a big question mark over its future – the brand isn’t as meaningful to the great British public as it once was.
“They need to be looking at what consumers want and investing in things like a super slick mobile user experience if they stand a chance of competing in a difficult market.”
Debenhams: Closing warning -
