Debenhams in Nottingham has been temporarily saved from the axe as the high street chain announced a list of 22 stores it plans to close next year.
The beleaguered firm, which also has a branch in Mansfield, entered administration earlier this month after it rejected a last-minute £200 million rescue bid from Sports Direct boss Mike Ashley.
Following the administration it was sold to a company, Debenhams Group Holdings, which is controlled by Debenhams' lenders. They confirmed stores would close as part of a portfolio restructuring.
The announcement today puts 1,200 jobs at risk but more closures are expected to be announced in the future.
Terry Duddy, executive chairman of Debenhams, said: "The issues facing the UK high street are very well known.
Debenhams closures likely to come sooner rather than later, says retail expert
"Debenhams has a clear strategy and a bright future, but in order for the business to prosper, we need to restructure the group's store portfolio and its balance sheet, which are not appropriate for today's much changed retail environment.
"Our priority is to save as many stores and as many jobs as we can, while making the business fit for the future."
The announcement is part of the company's plan to reduce its physical footprint in the UK but provide 'better quality stores'. The company has proposed two Company Voluntary Arrangements which focus on its retail side and its properties.
Both proposals state all stores will remain open in 2019, including over the Christmas period.
The 22 stores are expected to close in 2020. However, the company still plans to cut its number of branches by 50 in total.
It has also confirmed one of its warehouses has already closed and three others could be consolidated as part of the process.
A statement to the London Stock Exchange from the group said: "The CVA does not seek to compromise claims of any creditors other than certain landlords, local authorities and inter-company liabilities.
"All trade suppliers and the entitlements of employees will continue to be paid in full during this process.
"The group has engaged with its landlords and groups representing the landlords, pension trustees, lenders and other stakeholders, and will seek to engage further as the process progresses.
"The CVA is part of the company's restructuring and turnaround plan.
"In conjunction with this, certain of the group's financial creditors recently provided £200 million of fresh liquidity and have committed to equitise £100m of debt. Value recovery for the shareholders of Debenhams plc is expected to be nil."
The full list of stores earmarked for closure:
Altrincham
Ashford
Birmingham Fort
Canterbury
Chatham
Eastbourne
Folkestone
Great Yarmouth
Guildford
Kirkcaldy
Orpington
Slough
Southport
Southsea
Staines
Stockton
Walton
Wandsworth
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Welwyn Garden City
Wimbledon
Witney
Wolverhampton
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