Debenhams U.K. Stores Set to Close Without Alternative Offer

Debenhams confirmed that its administrators, FRP Advisory, have been unable to find a “deliverable proposal” in its sale process, according to a statement.

  • Given the current trading environment and the likely prolonged effects of the COVID-19 pandemic, the outlook for a restructured operation is highly uncertain
  • Administrators therefore “regretfully concluded that they should commence a wind-down of Debenhams U.K., whilst continuing to seek offers for all or parts of the business”
  • Debenhams will continue to trade through its 124 U.K. stores and online to clear its current and contracted stocks; on conclusion of this process, if no alternative offers have been received, the U.K. operations will close
  • NOTE: Debenhams has around 12,000 employees, according to the BBC

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