12000 Jobs at Stake as Debenhams Set to Shut all Stores

12000 Jobs at Stake as Debenhams Set to Shut all Stores – Department store chain goes into liquidation after JD Sports ends talks over rescue deal.

Debenhams is about to wind down the business and shut all 124 stores with the potential loss of 12,000 jobs after JD Sports ended discussions over a rescue deal for the struggling emporium chain.

Administrators to Debenhams, which has been seeking a buyer since the summer, said the sale process had “not resulted during a deliverable proposal”.

They will still seek a buyer while stores will remain hospitable unload remaining stock, a process managed by liquidation experts at Hilco. If no buyer is found once that stock is sold, the stores will close.

Closures are expected to start out early within the New Year with the likelihood that Debenhams will disappear from the main street after quite 200 years.

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Sources: The Guardian

Hashtags: #PhilipGreen #Debenhams #ArcadiaGroup

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