Debenhams store closures threat prompts warning from Coventry business expertTHE threat of Debenhams store closures has prompted a University of Warwick business expert to call for a review of taxes which advantage online retailers.
Last week, the company announced it will shut down up to 50 stores in the UK, placing over 4,000 jobs at risk.
The major high street retailer has branches in Coventry, Rugby, Leamington Spa and 166 across the country.
A major store in the West Orchards Shopping Centre, Coventry, has for decades been a central part of the city centre.
Professor of strategic management at Warwick Business School, Christian Stadler, is now warning of a high street crisis unless the government supports retailers.
He said: “Debenhams is the latest in a long line of department stores to run into trouble as the decline of the high street continues, with more and more shoppers choosing to buy online.
“The tax advantages that online businesses enjoy have to be addressed, otherwise iconic names like Debenhams will continue to face higher costs than its internet rivals and will struggle to compete.
“The government has to decide whether it is prepared to stand by and watch the death of the high street and the loss of jobs that involves.
“Politicians need to think about what city centres will look like, and what the environment will be like, if all the shops are gone and decide whether they want to give stores a leg up."