Debenhams launches closing down sale with no news on a deal
The UK’s largest department store chain has launched a closing down sale as no offer from either of the companies believed to be interested in buying it has yet emerged.
Debenhams is offering up to half price off many items and even up 70% off some in its physical stores and via its online business, after going into liquidation on December 1 and no buyer being found for it as a going concern.
However, it's known that Frasers Group is interested in its online business for its strength in the beauty sector and could also take on an unspecified number of stores. US-based Authentic Brands Group is also believed to be looking at the company.
Debenhams had already launched a ‘fire sale’ with massive discounts earlier this month, but it has now specifically called it a closing down sale, although whether this is indicative of the chances of a buyout lessening is unclear.
Debenhams employs around 12,000 people and a large number of other jobs are also dependent on the business.
The closing down sale means that its 124 UK stores and the webstore are continuing to trade, although it has been reported that the liquidation should be complete by the end of this month. The business will close if no offers are made and shoppers have been urged to spend any gift cards and return any unwanted goods as soon as possible.
Copyright © 2021 FashionNetwork.com All rights reserved.