Debenhams closing: Which Debenhams shops will close? Talks collapse - 12,000 jobs at risk
Former Debenhams chairman Sir Ian Cheshire said said the firm was “caught in a straitjacket” with too many High Street outlets on long leases.
He added: “I feel desperately sorry for the thousands of people now worried about their jobs going into the Christmas period. The human cost of this is the main issue I see.”
The retail veteran added the store would be better with just 70 stores and a bigger focus on online sales, saying: “You’ve got to be so much faster and so much more online.”
Julie Palmer, partner at Begbies Traynor, sai of today’s announcement: “Coming so swiftly on the back of Arcadia’s collapse, today’s news represents a real bleak moment for the High Street. Given how prominently Arcadia brands feature in its stores, the downfall of Sir Philip Green’s empire was always likely to leave Debenham’s rescue deal hanging by a thread.
“The pandemic has had a hugely corrosive effect on traditional retailers but especially for those with a significant physical presence on the High Street, which has largely been a consumer no-go zone for the majority of the year.”
“There will be myriad reasons behind JD Sports’ decision, but it is likely to have been particularly spooked by the inability to predict the future course of Covid restrictions, which could further limit footfall. Whatever their rationale, it’s clear the UK High Street is never going to look the same again.”
