The Telegraph published this video item, entitled “‘We’re really sad’: Debenhams’ demise leaves shoppers shocked” – below is their description.
Debenhams is set to be liquidated, with 12,000 jobs at risk, after the collapse of Sir Philip Green’s retail empire Arcadia prompted JD Sports to abandon its bid for the department store.
In a statement on Tuesday, Debenhams said its administrators had not been able to find a “deliverable proposal” to sell the company, and will “commence a wind-down of Debenhams UK, whilst continuing to seek offers for all or parts of the business”.
Minutes earlier, JD said it had terminated takeover talks following Arcadia’s collapse.
Debenhams’ future was put at risk once again after the owner of brands including Topshop and Burton – one of its biggest concession holders – called in administrators on Monday.
There is now set to be a bidding war that will shape the future of Britain’s ailing legacy fashion retail companies – and the high street itself.
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