The news was partly expected as another major high street brand goes into administration. Debenhams have been around in one form or another for 242 years, but like other large retail giants that relies more on high street trade than online, has struggled in recent years, high rents and rates for prime positions has not helped.
It was announced ironically the day that the UK had signed off 2 vaccines for Covid-19 signalling the beginning of the end of continuous lock downs or tiers that affect no essential shops like Debenhams.
The rescue package set to keeps the stores by JD sports open failed, it is likely there will be mass jobs loss, possible 1200 plus. It had already shed 6500 jobs earlier in the year. It is likley the famous high street brand will move into liquidation quiet soon.
Today the main website was nearly taken down due to sale demand whilst a restructuring firm went into the physical stores to start moving stock.
Arcadia had also recently announced it was also going into administration, this may have been the straw that broke the ponies back and convinced JD Sports not to go ahead with the rescue package.