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Debenhams to Close 22 Stores Next Year, Threatening 1,200 Jobs

Debenhams, the embattled U.K. department-store chain that was taken over by its lenders earlier this month, plans to close as many as 22 stores next year and reduce rents on others in a bid to stay afloat. The 241-year-old retailer is seeking to shut the outlets as part of a previously announced plan for about…

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