Debenhams has officially gone into administration, it has been confirmed today.
The retail giant, Britain’s oldest department store, said it has appointed administrators to oversee the process, after announcing it had filed a notice of intent to appoint administrators on Monday.
In a statement, the 242-year-old company said it hoped to resume trading after coronavirus restrictions were lifted in the UK, however, no such plan is in place for the firm’s Irish stores, all of which have closed permanently.
Around 22,000 jobs are now at risk – alongside 142 stores in the UK – including in Dundee’s Overgate Centre.
In a statement, the firm said: “In these unprecedented circumstances the appointment of the administrators will protect our business, our employees, and other important stakeholders, so that we are in a position to resume trading from our stores when government restrictions are lifted.
“We anticipate that our highly supportive owners and lenders will make additional funding available to fund the administration period.
“We are desperately sorry not to be able to keep the Irish business operating but are faced with no alternative option in the current environment.
“This decision has not been taken lightly and is no way a reflection on our Irish colleagues, whose professionalism and commitment to serving our customers has never been in question.”
Debenhams operates the largest premises in the Overgate, over three floors.
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