Debenhams is set to launch a huge pre- Christmas sale after attempts to save the high street giant fell through earlier today.
The retailer will be giving Scots up to 70% off a number of items during what is expected to be their last ever sale.
JD Sports had been tipped to take over from the department store but recent developments caused the sports-fashion brand to pull out.
It came after the Arcadia group, which is said to be worth approximately £75m a year to Debenhams, collapsed.
All 124 UK stores - a number of which are based in Scotland - are expected to close following today’s news.
The company said that it will continue to trade on the high street and online, with a fire sale of its stock expected to open from tomorrow, according to the Mirror.
A spokesperson for the firm said: “Debenhams will continue to trade through its 124 UK stores and online to clear its current and contracted stocks.”
Images inside Debenhams on Oxford Street in London show stock ready to be sold at a cut price as restructuring firm Hilco prepare to wind down the company.
Shoppers are being urged to spend gift cards and return any unwanted goods with the chain likely to be liquidated by the end of 2020.
Hilco told Mirror Money that "UK operations will close" if no new offers come forward.
It comes on the worst day for retail since the pandemic hit, with more than 20,000 jobs placed at risk in less than 24-hours.
Arcadia, which triggered the latest Debenhams announcement, placed 13,000 workers at risk of redundancy on Monday night as it crashed into administration while boss Philip Green soaked up the sun in Monaco.
Now, employees are calling for Green to sell his £100million super yacht to help save thousands of jobs.
The company has already attracted interest from Mike Ashey, with Boohoo another prospective buyer. Topshop is likely to garner the highest price tag.
However, Green is also under pressure to plug Arcadia’s £350million pension black hole, a move which echoes the demise of BHS in 2015, when he was shamed into paying the bill by MPs.