A fire sale by Debenhams is expected to fuel a “Wild Wednesday” rush on the high street today as most retailers reopen for the first time in a month.
The 242-year-old department store chain will offer shoppers up to 70 per cent off after going into liquidation.
Administrators concluded that there was no option but to wind up the business after a rescue deal with JD Sports failed. About 12,000 jobs are now at risk. If a saviour cannot be found before the new year, Debenhams will start emptying its stores and selling fixtures, lights and mannequins in an effort to raise cash for its creditors.
The blow for the high street follows Monday’s collapse of Sir Philip Green’s Arcadia empire, including Topshop, putting