UK retail’s terrible 24 hours as two top shops collapse
Arcadia and Debenhams, two of the UK’s best-known retailers, have collapsed putting 25,000 jobs at risk
01 December 2020 - 15:15
London — The UK retail industry has suffered one of the harshest blows yet after two of the country’s best-known retailers collapsed, putting 25,000 jobs at risk in less than 24 hours.
Debenhams said on Tuesday morning it’s preparing to close its doors for good after failing to find a buyer. Late on Monday, Philip Green’s Arcadia Group, which owns brands including Topshop and Dorothy Perkins, began insolvency proceedings...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.