What does this mean for the retail giant?
Debenhams has revealed a new turnaround strategy, it will involve boosting its appeal as a “destination” shop and will also look at improving its online services.
As well as this it will review 10 of its 165 stores in the UK, these outlets could potentially close in the next five years.
Other closures could also include a central distribution warehouse as well as around 10 smaller warehouses.
The firm saw its half-year pre-tax profits fall by 6.4 per cent to £87.8m.
Chief executive Sergio Bucher, said: “We will be a destination for ‘social shopping with mobile the unifying platform for interacting with our customers.”
Debenhams has a total of 240 stores across 27 different countries.