New owner of Gloucester’s former Debenhams store revealed The former Debenhams department store in Gloucester has a new owner, adding to the multi-million pound investment already underway in the city centre. Gloucester’s Debenhams building has a new owner, with exciting plans for the iconic Art Deco building. Gloucester’s Debenhams building has a new owner, with exciting plans for the iconic Art Deco building. When the pandemic finally brought an end to a beleaguered Debenhams there was concern what this meant for Gloucester, with the department store a crucial part of the city centre’s retail offering. And with the landmark building abutting the multi-million pound city council-led regeneration of King’s Square, there were fears the new-look quarter would be overslooked by a crumbling eyesore.