Debenhams and HMV to close swathe of stores this month

Debenhams

Debenhams and HMV will both shutter stores this month as the retailers grapple with rising rents and business rates.

Debenhams will close 19 stores in January as part of its turnaround plan, while a further 28 will close in 2021.

HMV, meanwhile, will axe three shops and warned that a further 10 could close if it fails to secure new deals with landlords.

The closures will ramp up pressure on struggling high street locations across the UK as they battle to reinvent themselves for the multichannel era amid rising property costs and the growth of online sales.

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