UK retailer Debenhams to be liquidated, threatening 12,000 jobs

• Administrators FRP Advisory will start a wind-down of Debenhams whilst continuing to seek offers for all or parts of the business.
• The collapse of Debenhams comes a day after Philip Green's Arcadia fashion group entered administration.

The boarded-up Oxford Street branch of Debenhams photographed on April 06, 2020 in London, England.

Leon Neal | Getty Images News | Getty Images

British department store retailer Debenhams is to be liquidated after failing to find a buyer, administrators FRP Advisory said on Tuesday.

It said it would start a wind-down of Debenhams, whilst continuing to seek offers for all or parts of the business.

The collapse of Debenhams, which trades from 124 UK stores and employs 12,000, came a day after Philip Green's Arcadia fashion group entered administration, threatening about 13,000 jobs.