Debenhams Set To Close All 124 Shops As Rescue Bid Fails

Debenhams is set to close all 124 of its stores, with the threat of 12,000 job losses, in what will be a hammer blow to high streets.

- Graham Hiscott

Administrators who took over running the department store chain last summer said they had no choice but to wind it down after failing to find a buyer.

The announcement that the 242-year-old retailer was set to close came little more than 12 hours after it was confirmed that Sir Philip Green’s Arcadia empire had gone into administration, putting 13,000 jobs at risk.

Debenhams’ fate was sealed after JD Sports pulled out of a takeover.

One reason it got cold feet was concerns about who might buy Arcadia’s brands, including Topshop.