Jakarta, CNBC Indonesia – The British department store retail company, Debenhams, is reportedly going to be liquidated after failing to find a buyer.
This was conveyed by the administrator, namely FRP Advisory, as reported by Reuters, Tuesday (12/1/2020).
JD Sport Fashion has confirmed that it will not provide offers to the retail company group.
Debenhams has 124 stores in the UK. The closure of this company threatened its 12,000 employees. The condition of the retail sector has indeed been hit by the Covid-19 pandemic.
Previously, the British clothing retail company, Arcadia Group, had a difficult time due to a lockdown due to the corona virus pandemic. Not only that, the intense competition for the online retail business has also put the company on the verge of bankruptcy.
There will be at least 13,000 workers who are threatened with losing their jobs.
However, the company has been offered an emergency loan, according to a BBC report on Monday (30/11/2020).
“High-end retail owners such as Topshop, Topman, Dorothy Perkins, Burton, Miss Selfridge, Evans and Wallis, will enter administration within a few hours,” BBC reported according to senior company sources.
(wed/wed)
– .
