It is understood that this British retail giant company with a history of more than 240 years was forced to apply for bankruptcy protection, but it has not found a buyer to take over for a long time and had to choose to close down. In addition, a well-known British retailer, Acadia Group, has also announced that it has entered the bankruptcy liquidation procedure. It is very popular in COVID-19, England. During this epidemic, these two giant companies also exposed their vulnerability in the retail industry. Their closure has caused trouble to about 25,000 retail jobs in Britain.
It is understood that Debenham department store chain explained that after the company's potential buyers withdrew, the company's internal managers began to reduce their business. Not only that, they also sought to sell their business, and the company also began to sell shares and liquidate its business. The company also explained that bankruptcy liquidation may lead to layoffs of 6.5438+0.2 million people.
The history of Debenham Department Store begins with 1778. At that time, the company was just a shop, selling only textiles, hats, gloves and umbrellas. In 18 13, William? Debenham invested and later renamed Clark &; Debenham. By 1950, it has become one of the largest department stores in Britain.
In addition, another retail giant, Arcadia Group, has also filed for bankruptcy protection and entered the custody stage. About 654.38+300,000 employees in the Group are facing unemployment. This enterprise is also one of the enterprises seriously affected by the COVID-19 epidemic. Similarly, the company's sales have been declining during the epidemic, and there is no extra money to repay some debts. Some experts also pointed out that the epidemic period only reflected part of the problems, in fact, they had already faced fierce market competition before this.