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Debenhams U.K. Stores Set to Close Without Alternative Offer
Debenhams U.K. Stores Set to Close Without Alternative Offer
01 Dec 2020, 03:30 PM IST
(Bloomberg) -- Debenhams confirmed that its administrators, FRP Advisory, have been unable to find a “deliverable proposal” in its sale process, according to a statement.
(Bloomberg) -- 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
©2020 Bloomberg L.P.
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