Debenhams is considering cutting costs by selling assets including Magasin du Nord, its chain of six Danish department stores.
The retailer said it is reviewing its options for Magasin which “continues to be a profitable business”.
Earlier this week Debenhams issued its third profit warning of the year.
The retailer said it expected pre-tax profits to reach £35m-£40m, with EBITDA between £160m-£165. Previously, profits before tax were expected to be £50.3m.
The department store giant blamed the fall in profits on fewer shopper numbers and heavy discounting on the high street.