Debenhams issues profit warning and threat of store closures as sales continue to slide

Latest warning comes after recent announcement of £40m cash injection

UK department store Debenhams has issued a further profit warning as the struggling retailer’s sales continue to fall.

In an unscheduled trading update it said that previous profit forecasts for the financial year, which were made in January, are no longer valid after like-for-like sales slid by 5.3% in the 26 weeks to 2 March.

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