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Gloucestershire Business News

Debenhams starts closing down sale

In a sad day for Gloucester, Debenhams has launched its closing down sale online and in stores.

Late Christmas shoppers could snap up a bargain at the chain, which is offering up to half price on many items both in store and online, as reported by Retail Gazette.

After a long rocky period, the retailer went into liquidation on 1st December, putting 12,000 jobs at risk, when JD Sports pulled out of a deal. There have been no confirmed buyers since then.

Mike Ashley's Frasers Group has expressed an interest in Debenhams' online business, due to its strength in the beauty sector and could also take on a number of stores.

JD Sports withdrew their offer partly due to Arcadia going into administration, as Arcadia is the biggest concession operator in Debenhams stores.

Debenhams had already launched a sale earlier this month, but it has now been branded as a closing down sale.

In the meantime, all 124 UK stores and the website are continuing to trade, but liquidation should be completed by the end of the year.

If a buyer doesn't come forward before then, Debenhams will close down for good, leaving Gloucester without the department store which has been its anchor since the early 1970s.

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