Department Stores

Debenhams to rent flagship store space to hot-deskers

Debenhams is reportedly looking for a way to make use of its flagship store’s excess space by renting it to a working space company.

The retailer is said to be in the early stage talks with hot-desking firm WeWork.

The news comes after Debenhams chief executive Sergio Bucher announced plans to scale back the chain with 10 store closures, downsizes and partnerships with external firms. The company recently worked with Sweat! to open in-store gyms at three of its outlets.

The latest move will see office space rented out at its Oxford Street store in a bid to gain in-store revenue as UK retail sales shifts from high street to online.

Earlier this year, Debenhams issued a profit warning following poor Christmas sales and last month, the retailer axed 320 store management jobs as part of a £10m cost-saving plan.

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