General
It’s all over for Debenhams as liquidators appointed
British department store retailer Debenhams is to be liquidated after failing to find a buyer, administrators FRP Advisory announced on Tuesday.
FRP will commence a wind-down of the business, which was founded back in 1778, spelling the end of 12,000 jobs, mainly in the UK. It has 124 stores there and in Denmark, where it owns Magasin du Nord.
However, the liquidator said it would continue to seek offers for all or parts of the business during the process.
The collapse comes a day after Sir Philip Green’s Arcadia Group was placed in administration.
Debenhams was first placed in administration on April 9 last year in a pre-pack administration which resulted in 22 stores being closed and rent reductions secured for many…
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