Debenhams, one of the biggest names on the high street, is set to close with 12,000 staff expected to lose their jobs.
It’s the second huge blow to the UK retail sector in the space of 24 hours, with Arcadia, the owner of Topshop, going into administration.
Debenhams had already cut 6,500 jobs in recent months after the group went into administration.
For now, Debenham’s 124 stores and its online business will stay open, but liquidators are moving in to start to clear the stock and if no other offer is made the stores will close by the end of March next year.
Huw Edwards presents BBC News at Ten reporting by business correspondent Emma Simpson and business editor Simon Jack.
