UK high street left reeling as Debenhams goes into liquidation

The Debenhams department store chain is to be wound down after Christmas, with the loss of up to 12,000 jobs and closure of 124 stores in a new blow to the high street.

The liquidation of the 240-year-old business came just a day after Philip Green’s Arcadia group, the owner of brands including Topshop, Miss Selfridge and Wallis, collapsed into administration. A total of 25,000 jobs are now at risk at the two companies, which were once part of the Burton Group.