Business by Benedict Brook 20th May 2021 8:38 AM The shuttering of UK retail icon Debenhams has sent shockwaves across Britain with the insolvent department store leaving a huge gap on 124 high streets and shopping centres. But the ramifications of Debenhams downfall are reverberating in Australia. A retail analyst has said a failure of the likes of Debenhams could happen in Australia .
COVID-19 hasn t helped retail anywhere. But the problems with department stores, like Debenhams, run deeper. In Australia, chains have gone through a torrid few years as tastes change - some couldn t even blame tough times on a pandemic.
Roger David, Ed Harry and Shoes of Prey are all no more. Even global powerhouses like H&M have exited some Australian locations.
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