Will leave a huge hole in the Preston high street, really sad to see it go. Prestons high street has struggeled for a long time, but did feel like it was doing ok prior to lockdown. Got a feeling this will really seal its fate.Seems to have been confirmed. Covid has perhaps exacerbated their issues, but they were really struggling prior to this.
Awful news for their estimated 12,000 staff, and the indirect effect it has on other businesses too.
I work in Preston, and Debenhams is pretty much the focal point of its shopping centre. Topshop features prominently on the high street too. Not sure how easily such large shops will be replaced, and if they're not replaced, fewer shoppers will go into town which affects all the other shops too.
Now would be a good time to introduce a tax on online shopping to offset business rate reductions. Something needs to be done.