The U.K. retail industry suffered one of the harshest blows yet after two of the country’s best-known retailers collapsed, putting 25,000 jobs at risk in less than 24 hours.
Debenhams said Tuesday morning it’s preparing to close its doors for good after failing to find a buyer. Late Monday, Philip Green’s Arcadia Group, which owns brands including Topshop and Dorothy Perkins, began insolvency proceedings.
