Debenhams 'draws up plans for liquidation' & could trigger huge jobs cull

THE owner of Debenhams has drawn up plans for the liquidation of the 242-year-old department store, according to reports.

It is feared that the potential move could trigger the biggest jobs cull of the coronavirus pandemic so far, according toThe owner of Debenhams has allegedly drawn up plans for the liquidation of the 242-year-old department storeThe retailer employs around 14,000 members of staff and could be at risk of redundancy if the chain doesn't survive.

Earlier this week, Debenhams announced that it will be axing 2,500 jobs - in total it will have culled 4,000 jobs since the start of the pandemic outbreak. British Airways currently holds the record for the most jobs cut in one go due to the impact of coronavirus, with 12,000 employees at risk of being out of work - although this figures is under review and could be reduced.But it has reportedly appointed finance group Hilco Capital, a firm which specialises in helping to wind down distressed retail businesses, to help it if a sale doesn’t go through.

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:(

The way they treated restaurant staff left them with no help or redundancy, horrible management and overpriced items

Good riddence

Not surprised. Massive blow for staff losses.

I'm surprised it's lasted this long - the prices are ridiculous, just like Marks & Spencer, but, they've got the food sales to prop up the lack of clothing sales - Debenhams hasn't and it's paying the price for overcharging, people always shop around for a bargain

Oh no I was only in there in 1978

Good luck with that company. It will only end one way.

Wonder when the government will realise that crashing the economy for a mild flu was a bad idea..?

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