John Lewis Warns of ’Painful’ Store Closures

Retail giant John Lewis has warned of further “painful” store closures after the pandemic saw it report its first ever annual loss.

The group swung to a loss of £517m for the year to January, against profits of £146m the previous year.

The retailer said it “does not expect” all of its department stores to reopen once lockdown restrictions ease.

It has previously been reported the chain was considering closing up to eight more stores to try to cut costs.

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Source: BBC