Glasgow Debenhams facing closure
Last updated 1st Dec 2020
The future of the Debenhams, and its Glasgow city store on Argyle Street, is in doubt as JD Sports pulls out of rescue talks as a follow-on from the collapse of Arcadia.
It was the last remaining bidder for Debenhams, which has been in administration since April and has 12,000 staff across the UK.
Now the administrators say they will begin the process of winding up the company.
"If no alternative offers have been received, the UK operations will close" - Debenhams administrators
In a brief statement to the London Stock Exchange, the company said: "JD Sports Fashion, the leading retailer of sports, fashion and outdoor brands, confirms that discussions with the administrators of Debenhams regarding a potential acquisition of the UK business have now been terminated.''
The 242-year-old department store chain said its administrators have "regretfully'' decided to start its liquidation process, while continuing to seek offers.
Debenhams said it will continue to trade through its 124 UK stores and online to clear its current and contracted stocks.
"On conclusion of this process, if no alternative offers have been received, the UK operations will close,'' the company said in statement.
Earlier this year Debenhams cut 6,500 jobs and closed a number of branches, including the outlet at the Silverburn shopping centre in Glasgow as it entered administration for the second time in 12 months.
Debenhams also has branches in East Kilbride and Ayr.
It is understood that the collapse of the deal is partly linked to the administration of Arcadia, which is the biggest operator of concessions in Debenhams stores.
Arcadia tumbled into insolvency on Monday evening, casting a shadow over its own 13,000 workers and 444 stores.
"When you were 16-years old it was a brilliant place to be." - former worker, Yvonne McCormack
The store on Argyle Street was build in the late 1920s and used to be known as Lewis's.
It was famous as the first building in Glasgow to have an escalator and became Debenhams in 1990.
Yvonne McCormack began working there as a 16-year-old in 2000.
"Sale days were manic." she recalls. " We'd be open until midnight - they were crazy!
"It's just a massive building and as staff there are so many places you get to see that the customers don't. There's a sixth floor and all the stockrooms and storage areas.
"It will be weird to see it as anything other than Debenhams because I'll always remember it as that. When you were 16 years old it was a brilliant place to be."
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