UK: Debenhams pulls out of Jane Norman deal
By Katie Smith | 1 August 2011
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Jane Norman fashions are set to disappear from Debenhams stores |
Department store retailer Debenhams has pulled out of talks to save the Jane Norman fashion concessions in its stores, in a move that leaves nearly 500 jobs at risk.
The retailer said it had tried to reach an agreement with the administrators and new owners to continue running the concessions on the same basis as before, "but this has not been possible."
The Jane Norman fashion chain collapsed into administration in June, after being hit by tough trading conditions and rising debts. 33 of its 94 stores were then sold to fellow retailer Edinburgh Woollen Mills, along with stock from the 95 concessions in Debenhams.
"We are sorry to see Jane Norman leave our stores but this step has been necessary to protect the interests of our business," said Debenhams deputy chief executive, Michael Sharp, in a statement today (1 August).
Debenhams added it will be "pursuing its contractual rights under the concession agreement associated with the termination."
According to newspaper reports, nearly 500 jobs could be axed as a result. Workers who have been made redundant by Jane Norman have been advised to apply for any vacancies that may be available in Debenhams stores.
The 80,000 square feet of trading space occupied by Jane Norman in Debenhams stores will be changed into a selection of the retailer's own-bought brands, including Designers at Debenhams and new concession introductions.
Companies: Debenhams
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