Debenhams had been in rescue talks with JD Sports. But the sports retailer pulled out of the talks when Arcadia failed.
Arcadia operated more concessions in Debenhams than any other retailer and the group is believed to have sold about £100m of clothing a year via Debenhams shopfloors.
Richard Lim, the chief executive of analysis firm Retail Economics, said the demise of Debenhams would leave a huge hole in the high street.
He said: “We cannot overstate the significance of this collapse given the vast property portfolio, number of jobs impacted, and the reverberations felt across the industry.
source: express.co.uk