Debenhams’ administrator has said it is continuing to engage with several third parties regarding the sale of all or parts of the failed department store chain. However, FRP Advisory added that it was continuing to plan for the ongoing wind-down of the business as announced last month, with six stores now set to remain closed even if lockdown restrictions are eased.
Whilst there are plans to reopen as many stores as possible to complete a stock liquidation, the group said it had been unable to agree on lease extensions for its flagship site on Oxford Street, London, and shops in Portsmouth, Staines, Harrogate, Weymouth and Worcester. As a result, these will now be permanently closed, impacting 320 jobs.
The beleaguered retailer entered the liquidation process at the start of December after JD Sports walked away from rescue talks.
Geoff Rowley, joint administrator to Debenhams and Partner at FRP Advisory, said: “We continue to engage with interested parties over alternative proposals for the future of Debenhams, but inevitably the latest lockdown has had an effect on our plans for the wind-down of the business.
“We regret the impact on those colleagues affected by today’s announcement and would like to thank all those who continue to keep the business trading in very difficult circumstances.”
