Maitland was invited to take part in the review but lost out in the repitch to Tulchan Communications.
Debenhams remained tight-lipped as to the size and scope of the pitch process, but confirmed Tulchan would take over the brief next week.
Tulchan will report into Debenhams director of corporate communications Joanna Lane-Jones, alongside CEO Belinda Earl and finance director Matthew Roberts.
Lane-Jones said on the decision to repitch: 'We demerged from Burton Group four years ago and have worked with Maitland since then and have been pleased with their work.
'It's our policy to review all suppliers on a regular basis and it was felt a change was right for the business at this time.'
Tulchan will handle all financial and corporate comms, including results and calendar work, corporate reputation and maintaining relationships with investors, the business media and analysts.
The agency's work will strive to support Debenham's business strategy, which Lane-Jones said was 'to develop in our markets through store openings and acquisitions and through continuing to develop our own brand'.