The full list of 22 Debenhams stores set to close in…

The full list of 22 Debenhams stores set to close in 2020

Debenhams has confirmed it is planning to shut 22 stores by 2020, putting 1,200 jobs at risk.

Bristol's Debenhams store is not among the 22.

The department store chain has announced a Company Voluntary Arrangement (CVA) - a controversial insolvency process that will see the affected shops continue trading until early 2020.

Further closures could still be announced following discussions with landlords, while rent reductions will be sought on many of the remaining branches.

Aldi is hiring in Bristol and is offering perks including gym membership and cinema discounts

Terry Duddy, executive chairman of Debenhams, said: "The issues facing the UK high street are very well known.

"Debenhams has a clear strategy and a bright future, but in order for the business to prosper, we need to restructure the group's store portfolio and its balance sheet, which are not appropriate for today's much-changed retail environment.

"Our priority is to save as many stores and as many jobs as we can, while making the business fit for the future."

The retailer announced that it would pursue a restructuring last year, but the path for the process has now been cleared after control of the company was passed to its lenders.

Big high street names which are at risk

Debenhams went into a pre-pack administration earlier this month, wiping out the stakes of all shareholders including Sports Direct's Mike Ashley.

Creditors including landlords will have the opportunity to vote on the CVA in a process overseen by advisers at KPMG.

Jim Tucker, a senior restructuring partner at KPMG, said: "Today's announcement marks the next phase of Debenhams' financial and operational restructuring strategy, following the comprehensive funding package announced at the end of March.

"If approved, and with the support of lenders and landlords, the CVAs will allow the business the flexibility to implement its turnaround strategy with a store estate that reflects the current UK retail environment."

Asda launch massive baby sale – huge reductions to Tommee Tippee products as

Debenhams, which has a huge store in Broadmead, also released a financial update for the 26 weeks to March 2, showing that sales at its UK stores declined by 7.4 per cent during the period due to weaker footfall.

Underlying earnings declined by 36.6 per cent to £65.9 million.