Insider Business End of an era for Debenhams: CTC Group replaces brand

End of an era for Debenhams: CTC Group replaces brand

In April, all Cyprus Debenhams stores will be renamed to ERA Department Stores with one Nicosia branch closing altogether, Insider reports.

The Debenhams stores in Cyprus are owned by Ermes Department Stores Plc — the retail arm of CTC Group — that also owns franchise stores Next, OVS, Peacocks, Navy & Green, UBER, Armani Exchange and Women’secret and DIY stores Superhome Center.

According to the company’s announcement, the Debenhams branch in the Mall of Engomi, Nicosia will be open for business until Sunday, March 29, together with the Venue Cafe and the UBER store housed in the same building, after which date all three will close permanently.

It is also noted that the stores NEXT, OVS and Superhome Centre in the Mall of Engomi will continue operations normally.

An insider said that the move to close the Mall of Engomi stores comes after increased competition in Nicosia brought about by the opening of the new Nicosia Mall.

Meetings with staff will take place on Wednesday as well as next week in relation to the scheduled changes.

“Within the framework of our staff reshuffle, our company is making every possible effort to transfer as great a number as possible to the company’s remaining Nicosia stores. Every staff member affected by the changes will be notified via a personal letter,” the company said.

Read more:

https://in-cyprus.com/decree-on-putting-a-ceiling-on-specific-bank-charges-is-imminent/

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