Bankrupt Debenhams department stores will close their doors in the UK once the inventory liquidation is complete, according to a statement Monday from the liquidation administrators of these UK trade institutions.
Read also: Veepee and Showroomprivé resist the clothing crisis
A source familiar with the matter added that the nearly 12,000 employees of the chain of stores would consequently lose their jobs.
Last week, Debenhams had already announced that 6 of its 124 stores, including the main one on Oxford Street in London, would close.
The Covid-19 pandemic and the multiple lockdowns and restrictive measures on trade and activity have accelerated the fall of this British commerce institution, which was already in trouble before, in the face of the rise of online commerce and the changes consumption patterns.
Read also: Frasers negotiates to buy the British assets of Debenhams
The British group Frasers of businessman Mike Ashley remains in the running to buy out certain activities of the group, in particular part of its stores, but they would not reopen under the Debenhams banner.
