Debenhams only Australian store is set to shut its doors and abandon the Australian market entirely in early 2020.
The decision comes after Greenlit Brands subsidiary, PSEA Dept Store, confirmed its Debenhams Australia franchise terminated.
Having a strong presence overseas, Debenhams failed to reach similar popularity in Australia, with the majority of electronics sold in the market being only toys.
Both franchise and brand agreements to operate the Melbourne store will be terminated, putting an end of the UK retailers Australian venture.
The announcement comes roughly three months after shareholders voted for a Company Voluntary Arrangement (CVA), which put the struggling British department store chain into the hands of its lenders.
Th…
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