Debenhams is to close as a many as 22 stores, putting 1,200 jobs at risk across the department store chain.
The group has announced a Company Voluntary Arrangement (CVA), which will see the affected shops continue trading until early 2020.
The new flagship store in Watford and the branch in Borehamwood are not in the list of 20 sites which will close.
Further closures could still be announced following discussions with landlords. Meanwhile rent reductions will be sought on many of the remaining branches.
Terry Duddy, executive chairman of Debenhams, said: "The issues facing the UK high street are very well known.
"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."
Debenhams went into a pre-pack administration earlier this month, wiping out the stakes of all shareholders including Sports Direct's Mike Ashley.
The stores expected to close in 2020 are: Altrincham, Ashford, Birmingham Fort, Canterbury, Chatham, Eastbourne, Folkestone, Great Yarmouth, Guildford, Kirkcaldy, Orpington, Slough, Southport, Southsea, Staines, Stockton, Walton, Wandsworth, Welwyn Garden City, Wimbledon, Witney, Wolverhampton.
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