Martin Lewis: Debenhams gift card ‘no longer worth anything’
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The final dates of Debenhams store closures were announced last week, as 49 of the department store chain’s branches remained in the UK. Some closed earlier this week, while the rest will be closing today.
Last week, it was unveiled that some Debenhams branches were to close on May 12, while others were to close on May 15.
This means that tomorrow onwards, Debenhams will no longer exist in the UK.
A quintessentially British brand, its stores have existed on the country’s high streets for 242 years.
The clothing retailer started to close its shops earlier this year after it collapsed in December 2020.
Debenhams was forced to start shutting its branches last year after going bust, and earlier this month, on April 12, its remaining stores launched a fire sale in order to get rid of all its stock.
Huge discounts were available up until today, with up to 80 percent off on some products.
There was up to 80 percent off all fashion and home items and up to 70 percent off all beauty and fragrance products while stocks lasted.
With the closure of all its stores, 12,000 jobs will be lost at Debenhams.
However, the department store chain is not disappearing altogether.
Debenhams bosses sold the brand to online retailer Boohoo for £55million earlier this year, in January 2021.
The company is expected to incorporate Debenhams products into its own ranges later this year, and they will be available for customers to buy online.
Boohoo CEO John Lyttle said: “Our newly acquired brands are being re-energised and made relevant for today’s consumer across a broader market demographic.
“We are very excited about their potential and are already seeing the early rewards from their growth,” Mr Lyttle added.
Debenhams traces its roots back to 1778, when William Clark established a drapers store on Wigmore Street in west London.
Its current name stems from 1813 when William Debenham invested in the company, which became Clark & Debenham.
Months of closures and the rise of online shopping during the coronavirus pandemic has meant that many retail companies have been forced to close after going bust, with Debenhams being one of them.
The Debenhams stores closing forever today, May 15
Leeds White Rose
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