Everything MUST go: Debenhams will open TOMORROW for 'Wild Wednesday' fire sale of all remaining stock as 242-year-old chain collapses 24 hours after Arcadia - leaving 25,000 jobs at risk | WHAT REALLY HAPPENED

Everything MUST go: Debenhams will open TOMORROW for 'Wild Wednesday' fire sale of all remaining stock as 242-year-old chain collapses 24 hours after Arcadia - leaving 25,000 jobs at risk

Debenhams will launch a pre-Christmas fire sale of all its stock as it heads for oblivion today after 242 years of trading with 12,000 jobs set to go after JD Sports scrapped its proposed rescue deal following the collapse of Sir Philip Green's Arcadia group.

The latest disaster for the UK's ailing high streets already decimated by coronavirus came as Sir Philip was urged to do his 'moral duty' and sell his £100million superyacht to support his 13,000 Arcadia staff before Christmas and bailout the £350million black hole in their pension pot.

Debenhams has said it will continue to trade in its 124 shops and online with a fire sale of its stock when the national lockdown ends tomorrow, on a shopping day being branded 'Wild Wednesday' because shops can stay open all night to claw back some of £900million-a-day economic hit caused by Boris Johnson's controversial tier system.

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