This is terribly sad.
Lives and livelihoods are lost as people lose their jobs, especially, jobs that have lasted for many years.
I've written before about the problem retailers have. They still think we live in the world like the 1930s.
All you have to do is spend money on advertising and hey presto, people buy! Really? It's 2020 .... have you not seen buyers have mobile phones? Buyers are on social media not watching adverts!
Retailers still think that people are interested in adverts, they are not. All of the retailers that have gone to the wall, Debenhams included, have run advertising campaigns, just before the business slides into obscurity.
Debenhams has an advert on a bus stop new where I live. Really? Do companies really think that is a useful spend of money?
Go onto any train or bus we are not reading adverts, we are on social media. Subtle difference, but it could be the difference between relevance and obscurity.
Put it another way, advertisers go broke, people that use social, may just be able to stay afloat!
It is part of a plan to rescue the 240-year-old department store chain after it went into administration last year, falling into the hands of lenders. A last-ditch bid from minority shareholder Mike Ashley, the owner of Sports Direct, failed, wiping out his £150million stake. The closures will result in as many as 660 job losses as retail giants feel the heat after a punishing 2019 with Britain's high streets enduring 2,700 job losses and 300 store closures every week - the worst year in a quarter of a century. Analysts at the Centre for Retail Research said 143,128 employees were laid off and 16,073 shops shut their doors for good last year.
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