LONDON – Around 25,000 jobs in UK fashion retail are on the line, with both Debenhams and Arcadia going bust. Debenhams is this week set to wind down its business and close all 124 stores after talks with JD Sports over a rescue deal fell down. 12,000 jobs look likely to go.
Debenhams’ news comes within 24 hours of Topshop owner Arcadia falling into administration, putting 13,000 jobs at risk.
Difficult trading during the coronavirus pandemic was the final blow for both firms, however, each has suffered ailing fortunes in recent years amid competition from online-only retailers and fast fashion operators such as Primark and H&M.
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