Lichfield’s retail landscape has been dealt another blow over fears Debenhams could be the next big high street name to close.
Talks with JD Sports to take over the business have ended without a sale being agreed.
In a statement, Debenhams said administrators “regretfully concluded that they should commence a wind-down of Debenhams UK”.
Administrator Geoff Rowley said:
“All reasonable steps were taken to complete a transaction that would secure the future of Debenhams.
“However, the economic landscape is extremely challenging and, coupled with the uncertainty facing the UK retail industry, a viable deal could not be reached.
“The decision to move forward with a closure programme has been carefully assessed and, while we remain hopeful that alternative proposals for the business may yet be received, we deeply regret that circumstances force us to commence this course of action.
“We would like to thank the landlords, suppliers and partners who have continued to work with Debenhams through this turbulent period and can reassure them that all contractual obligations entered into in the administration period will be met in full.”Geoff Rowley
Debenhams said it would continue to trade in order to “clear its current and contracted stocks”.
If no buyer is found by the time this process is completed, all stores would then shut.
The news comes a day after the future of Lichfield’s Dorothy Perkins outlet was thrown into doubt after owner Arcadia Group entered administration.