Analysis: UK retail reels as collapse of Arcadia and Debenhams risk 25,000 jobs 

Debenhams decided to wind up the business after talks to sell the business to JD Sports Fashion failed. Picture: Alan Lewis, Photopress 

The UK 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 it’s preparing to close its doors for good after failing to find a buyer. Late on Monday, Philip Green’s Arcadia, which owns brands including Topshop and Dorothy Perkins, began insolvency proceedings.