•   
  •   

UK News Debenhams website inundated as shoppers try to grab bargains from collapsing chain

05:50  02 december  2020
05:50  02 december  2020 Source:   news.sky.com

New fears for Holly Willoughby

  New fears for Holly Willoughby Shockwaves as Alison Hammond is set to replace Ruth Langsford on This Morning sofaAfter regularly stepping in to guest-host in recent months, it was revealed the show’s roving reporter, Alison Hammond, and former X Factor host Dermot O’Leary would take over from the married presenters’ regular Friday morning slot – with Alison even standing in for Holly one day last week when she mysteriously missed the show for two days in a row. Fans rushed to praise her, saying, “Much prefer the bubbly Alison. She always seems so happy and content with life.

The Debenhams website has been overwhelmed by shoppers searching for bargains . after the department store chain collapsed . The firm will launch a huge stock clearance sale on Wednesday at 07:00 as non-essential retailers in England reopen after a four-week lockdown.

Debenhams ' website will continue to trade and shops will remain open until current stock is sold, but it’s believed stores will close early next year. The retailer said all 124 stores will reopen to shoppers tomorrow, December 2, as lockdown restrictions are lifted in England.

Shoppers have been waiting in virtual queues for over an hour as they rush to snap up deals on the Debenhams website after the chain's collapse.

text: People have been placed in a virtual queue to get onto the website. Pic: Debenhams © Other People have been placed in a virtual queue to get onto the website. Pic: Debenhams

The department store chain is being wound down after JD Sports pulled out of talks on a rescue takeover, placing 12,000 jobs at risk in a horror week for UK retail.

Many hoping to get a deal have been left disappointed after customers complained on social media of having to wait for extended periods of time to get onto the website, with some then being "kicked out" of the queue.

Chancellor warned foreign shoppers will desert UK if duty-free is axed

  Chancellor warned foreign shoppers will desert UK if duty-free is axed Earlier this year Rishi Sunak announced he would end VAT refunds for international visitors to British shops from January 1. The Treasury claimed the move would save up to £500m per year.Earlier this year Rishi Sunak announced he would end VAT refunds for international visitors to British shops from January 1.

Department store chain Debenhams have confirmed plans to start winding down operations after rescue talks with JD Sports collapsed . The collapse into administration of Philip Green’s Arcadia is seen as a body blow to hopes JD Sports might rescue Debenhams .

The department store chain Debenhams is on the brink of collapse amid the coronavirus pandemic it has The bargain store said it would be taking a 'hibernation period' while the country continues to control The London-based Italian food chain , which is owned by the Dubai-based Landmark Group

a person standing in front of a brick building: Debenhams has 12,000 staff at 124 UK stores © PA Debenhams has 12,000 staff at 124 UK stores

"50 minutes to get onto the @Debenhams website then after 5 minutes get kicked off to the end of the queue because my time is up what stupidity is this?!" wrote one person.

Mike Ashley wearing a suit and tie: Mike Ashley lost the battle for Debenhams but he could finally get what he wants © Reuters Mike Ashley lost the battle for Debenhams but he could finally get what he wants

Others commented they had seen up to half a million people waiting in the virtual queue ahead of them.

Some people were more sympathetic to the workers at risk of losing their jobs and said the rush to grab deals was "sad" and "embarrassing".

The store will be launching a huge stock clearance sale at 7am on Wednesday.

It comes after 13,000 jobs were placed at risk through the collapse of Sir Philip Green's Topshop empire.

Job losses: Major cuts since the start of the pandemic

  Job losses: Major cuts since the start of the pandemic More than 250,000 job losses or potential redundancies have been announced since March 23.It adds to more than 250,000 job losses or potential redundancies announced since the start of the pandemic.

Debenhams stores across the UK are set to close after JD Sports pulled out of talks to rescue the The sports chain was the only bidder for the firm, which is currently in administration, and However, the collapse of Arcadia Group – the biggest concession stand operator across Debenhams stores

The ailing British department store chain has failed to find a buyer after filing for bankruptcy protection in early April, putting 12,000 jobs at risk. Debenhams had filed for administration in April, although FRP had kept the stores open as it tried to save the business.

Debenhams says it will continue to trade, for now, to clear stock as administrators seek a buyer for all or parts of the UK business.

Its statement read: "The sale process has not resulted in a deliverable proposal.

"Given the current trading environment and the likely prolonged effects of the COVID-19 pandemic, the outlook for a restructured operation is highly uncertain.

"The administrators have therefore regretfully concluded that they should commence a wind-down of Debenhams UK, whilst continuing to seek offers for all or parts of the business."

Sportswear chain JD Sports was spooked by the demise on Monday night of Debenhams' biggest supplier, Sir Philip's Arcadia Group, while there was also unease over a deal among JD's shareholders.

Sky News had reported in August that the hedge fund owners of Debenhams had drafted advisers from Hilco, a restructuring specialist, to work on a possible liquidation if administrators judged it was unable to trade solvently.

Amazon Echo deals: Black Friday bargains on Echo Dot, Echo Show and more

  Amazon Echo deals: Black Friday bargains on Echo Dot, Echo Show and more A total of eight of Amazon’s Echo devices, including the Echo Flex, are on offer with savings of up to 50% available It wouldn’t be an Amazon deals event without prices being cut across the Echo smart speaker range and, true to form, the retailer has come out swinging in time for Black Friday.

Debenhams is reportedly considering closing over half of its UK stores in a radical rescue plan, putting more jobs at risk. Closing shops is one option and it may use this drastic plan as a bargaining tool with landlords should management try to renegotiate the rent on the sites it decides to retain.”

Department store chain Debenhams has confirmed it has formally entered administration. The firm has appointed administrators from the FRP Advisory to oversee the process, after announcing it had filed a notice of intent to appoint administrators.

A liquidation of the UK business will take place if no buyer is found, resulting in 124 UK stores closing and the workforce being lost.

Administrators assured suppliers and other creditors, including landlords, that all contractual obligations would be met in full.

Chancellor Rishi Sunak told MPs the government "stands ready" to help workers affected by job losses at Arcadia and Debenhams after the "deeply worrying" announcements.

Debenhams' problems precede the coronavirus crisis that has devastated the high street with a Sky News tracker showing the retail and hospitality sectors taking the biggest hits in terms of employment.

The decision to wind the company down presents an opportunity for rivals to snap up at least some of the stores and Debenhams' online operation.

House of Fraser and Sports Direct tycoon Mike Ashley would be a likely candidate to seek a deal - potentially saving some of the threatened jobs.

His Frasers Group was the biggest shareholder in Debenhams when it collapsed in the spring of last year after spurning Mr Ashley's bid to take control of the business.

Shoppers hit the streets before tough new Covid rules come in

  Shoppers hit the streets before tough new Covid rules come in The centre of Manchester was packed with people getting ahead and stocking up on essentials before entering the highest category of restrictions next Thursday.The centre of Manchester was packed with people getting ahead and stocking up on essentials before entering the highest category of restrictions.

His holding was ultimately wiped out.

The billionaire has also expressed an interest in Arcadia.

Sir Ian Cheshire, who was ousted as chairman of Debenhams during a tussle with Mr Ashley in January last year, told Sky News he was sure stores would trade through the Christmas season and it was a "sad day" for the company.

"The whole challenge of Debenhams has been, from the time I was there, is there's a fantastic business inside it - probably 70 stores and a very good website which I'm sure someone will be buying because I don't think all these jobs are going - but you can't have the other... stores with long leases when you can't make it work and you can't invest in them," he said.

The union movement argued that the announcements of the past 24 hours proved the need for more Treasury support.

TUC general secretary Frances O'Grady said: "The government must not watch from the side lines as thousands of high street jobs are lost.

"We need urgent and targeted action to save livelihoods in badly-hit industries - like retail- before it's too late."

Are you a Debenhams worker affected by this news? Get in touch with Sky News

:: Email - sky.today@sky.uk

:: 'Your Report' on Sky News apps

Global markets bounce higher as economists predict vaccine reprieve .
The FTSE 100 closed 118.54 points higher at 6,384.73 at the end of trading on Tuesday. David Madden, market analyst at CMC Markets UK, said: “Tuesday’s positive move in the FTSE 100 is largely a complete reversal of Monday’s negative move.“Hopes continues to circulate in regards to vaccines being developed for Covid-19. The OECD now predicts that global GDP will contract by 4.2% this year which is an improvement on the previous forecast of -4.5%.“The bullish sentiment is seen across the board as hospitality, transport, travel and property stocks are higher too.

usr: 0
This is interesting!