Debenhams Coventry, in the West Orchards shopping centre is closing following reports that the company entered administration.
Debenhams has been in West Orchards since the building was completed in 1991 costing £50million to build.
In 2020, West Orchards and Debenhams featured in the Channel 5 TV show “At War with the Law”. The show followed the West Orchards security team tacking the issues of shoplifters.
Debenhams was founded in 1778, but hit hard times in 2018 following a huge financial loss. Store closures and redundancies followed in an attempt to save some of the business. Debenhams entered administration in 2020. In December 2020, Debenhams confirmed it was to closing all stores including the Debenhams in West Orchards in Coventry, 2 days before the Arcadia group collapsed. (Arcadia is the largest concession stand operator within Debenhams stores which has contributed to Debenhams financial problems).
Gift Cards are still being accepted at Debenhams, however the option to withdraw this service could be actioned soon. Currently it is business as normal.
The reaction on social media today.
Anyone else think that #PhilipGreen should be made to sell his personal assets and have his knighthood taken away? To have now run 2 businesses into the ground and made sure the staff won’t even have the pension they should be entitled to is a disgrace 😡 #Debenhams #ArcadiaGroup— Kelly B 🐞🌤☀️ 🌹 (@kellsley) December 1, 2020
as a debenhams colleague, am absolutely distraught at the news of “winding down” the business, but please continue to be nice to the colleagues when shopping, a lot of us are scared and uncertain as to what the future holds, please be considerate when shopping x— 🕷spooky bitch🕷 (@noitsniamh) December 1, 2020
I’ve known for 20 years that lots of high street stores were inevitably doomed because of online trading.— Russ (@RussInCheshire) December 1, 2020
But in 28 days we lost
Edinburgh Woollen Mill…
Terrible news for jobs about Debenhams and likely Arcadia once things play through – especially at this time of year.— Martin Lewis (@MartinSLewis) December 1, 2020
Wishing all staff the best. It is also worth being aware of your redundancy rights… https://t.co/E5WmSRR5cN
Administration means Debenhams is now under the management of a licensed insolvency practitioner. Debenhams has taken a formal process to protect itself from creditors to recover outstanding debts. This is why the effects of administration can affect other businesses.
A number of retailers have closed in 2020 due the pressures of government lockdowns throughout 2020 and lack of investment and establishment into online trading. Those retailers that left behind the online competitors have struggled to survive.