Saturday, April 1, 2023

UK retailer Debenhams to be liquidated By Reuters

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© Reuters. FILE PHOTO: General view of a Debenhams store in Harrogate

LONDON (Reuters) – British department store retailer Debenhams is to be liquidated after failing to find a buyer, administrators FRP Advisory said on Tuesday.

It said it would start a wind-down of Debenhams, whilst continuing to seek offers for all or parts of the business.

The collapse of Debenhams, which trades from 124 UK stores and employs 12,000, came a day after Philip Green’s Arcadia fashion group entered administration, threatening about 13,000 jobs.

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