UK retailer Debenhams to be liquidated

LONDON: British department store retailer Debenhams is to be liquidated after failing to find a buyer, administrators FRP Advisory said on Tuesday.

It said it would start a wind-down of Debenhams, whilst continuing to seek offers for all or parts of the business.

The collapse of Debenhams, which trades from 124 UK stores and employs 12,000, came a day after Philip Green’s Arcadia fashion group entered administration, threatening about 13,000 jobs.

The company was founded in 1778, as a single store in London and then grew to 178 locations across UK and other countries. The headquarters are in Regent’s Place in the London Borough of Camden and the company owns the Danish department store chain, Magasin du Nord. The range of goods sold includes clothing, household items and furniture.

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