Department store Debenhams has reportedly closed 95 Jane Norman concessions in its UK stores.
According to an article in the Independent, Debenhams has decided to terminate its concession agreement with the fashion retailer after failing to reach a new contract agreement.
Jane Norman went into administration in June with debts of around £140m. The brand name and 33 stores were bought by Edinburgh Woollen Mill owner Philip Day last month. The 95 concession sites were subject to a separate agreement.
The newspaper said the department store was not prepared to fork out "tens of millions" of pounds to continue the arrangement and is now looking to find new roles within the business for Jane Norman staff.
Meanwhile, Spanish-owned fashion chain Zara has bucked the trend to post a significant increase in full-year profits. The company, which is owned by worldwide fashion distributor Inditex, saw pre-tax profits grow to £15.8m in the year to January 31, up from £618,000 in 2010.
