British retailer Debenhams has announced it is to close up to 50 stores over the next five years.

This is an increase in its original plan to close just 10 outlets, while it also wants to develop a "lower-cost approach" for around 20 stores.

The department store chain has reported a statutory loss for the 12 months to September 1st.

In total, including its UK and international operations, the company made an operating loss after exceptional items of stg£481.3m (€544.0m).

Its international segment is made up of subsidiaries in the Republic of Ireland and Denmark, along with international franchise and online operations.

The company has six outlets in Ireland - including Dublin, Kildare and Limerick.

It also has two stores in Northern Ireland.

However a spokesperson told Newstalk.com they are not listing stores earmarked for closure.

But they said: "The Irish business went through the examinership process (in the) last year - the Irish business is being looked at through that".

They also said that as part of that process, leases were renewed for premises.

CEO Sergio Bucher said: "It has been a tough year for retail in 2018 and our performance reflects that.

"We are taking decisive steps to strengthen Debenhams in a market that remains volatile and challenging."

"Debenhams remains a strong and trusted brand with 19 million customers shopping with us over the past year.

"Our transformation strategy is gaining traction, with positive results from new product and new formats, general acclaim for our store of the future in Watford and digital growth that is outpacing the market."

"With a strengthened balance sheet, we will focus investment behind our strategic priorities and ensure that Debenhams has a sustainable and profitable future."

According to its results, Republic of Ireland revenue grew from stg£147.5m (€166.7m) in 2017 to stg£149.2m (€168.6m) this year.

Debenhams trades from over 241 stores across 22 countries.