Debenhams launches closing down sale amid liquidation

Debenhams closing down sale
The company went into liquidation on December 1, putting 12,000 jobs at risk
// Debenhams launches closing down sale
// The department store is liquidating after a sales process collapsed last week
// It still has no confirmed buyer, although Frasers Group & Authentic Brands have expressed interest

Debenhams has launched a closing down sale despite receiving no offers from interested buyers since going into liquidation.

The department store chain is offering up to half price off many items and even up 70 per cent off some in its physical stores and via its online business.

The retailer went into liquidation on December 1, putting 12,000 jobs at risk, when JD Sports pulled out of talks to acquire the business as part of a sales process.


READ MORE:


Despite no confirmed buyers since then, Mike Ashley’s Frasers Group expressed interest in Debenhams’ online business for its strength in the beauty sector and could also take on an unspecified number of stores.

Ashley revived his interest in taking over Debenhams after JD Sports withdrew its interest and placed the 242-year-old retailer on the verge of liquidation.

JD Sports’ withdrawal was partly linked to the administration of Sir Philip Green’s Arcadia Group, which is the biggest operator of concessions in Debenhams stores.

US-based Authentic Brands Group is also believed to be considering purchasing Debenhams.

Debenhams had already launched a fire sale earlier this month, but it has now specifically called it a closing down sale.

The closing down sale means that its 124 UK stores and the website are continuing to trade.

However, it has been reported that the liquidation should be complete by the end of this month.

Debenhams will close down for good if no offers are made and shoppers have been urged to spend any gift cards and return any unwanted goods as soon as possible.

Click here to sign up to Retail Gazette‘s free daily email newsletter

7 COMMENTS

  1. This is how Arcadia will go.Lots of interest like a fancy car on a forecourt but no-one willing enough to pay for the rust re-spraying and the high mileage and new tyres it will soon need.Perhaps in these circumstances a quick solution is better than a long drawn out end.

  2. Love how they say “Up to”. Had a quick look on some items and they are still more expensive than local independent retailers.

    One of the primary reasons for shoppers moving away from debenhams was the false “sales” and the overpriced merchandise

  3. I really have little sympathy for the people within Debenhams, over priced store with few customers and many staff, they have all had a good innings, the criminal part about it is they have had many years to change their business model and continued to trade as they did 50 years ago, I guess all good things come to an end

LEAVE A REPLY

Please enter your comment!
Please enter your name here