Debenhams’s entire 14,000 workforce is bracing for bad news as the retailer calls in liquidation experts. The struggling British department store chain has appointed Hilco Capital to draw up contingency plans should an attempt to sell the business end in failure, according to Sky News. On Tuesday Debenhams said it would cut a further 2,500 jobs, while taking ‘all necessary steps’ to give the chain every chance of a viable future. It comes as Jet2 announces 102 pilots face the axe after flights were grounded due to the coronavirus pandemic. At least 4,300 major job losses have been announced this week, with employment seeing the biggest fall in a decade in the three months to June. The British department store chain has appointed Hilco Capital to draw up contingency plans should an attempt to sell the business end in failure, according to reports (file photo) The move from Debenhams, which has 124 stores and employs a reported 14,000 staff across the UK, follows the chain collapsing into administration four months ago. A source close to the company said administrators were required to have liquidators on standby ‘in the unlikely event that all other options for the business do not materialise’. A… Read full this story
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