Sadly, it appears Debenhams will close down entirely as talks to save the business from liquidation have failed.
JD Sports had stepped into talks to potentially strike a deal, but negotiations came to nothing.
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.
“Inevitably the latest lockdown has had an effect on our plans for the wind-down of the business.
READ MORE: Long queues at Debenhams on ‘Wild Wednesday’ as UK store launches closing down fire sale
Harvey Jenkinson, chief executive of Gravity, which started as a trampoline park operator in 2014, said: “We believe that concepts like this will be the future of the high-street with retailers closing, offering a solution to landlords who are concerned about how to fill the space and attracting more footfall to shopping centres.”
Debenhams is running a closing down sale with up to 60 percent off fashion.
There is also a third off beauty and fragrance.
Deals include half price knit wear and loung wear.
There is also a whopping 70 percent off occasionswear. Bedding is up to half price off, too.
Debenham’s is not the only high street casualty in recent times.
Arcadia has gone into administration, putting 13,000 jobs at risk.
The retail group, owned by Sir Philip Green, runs 444 stores in the UK and 22 overseas.
Administrators at Deloitte have said they are now seeking buyers for Sir Philip’s business.