Debenhams is on the brink of collapse as the chain is set to file for administration for the second time in a year.

It has closed 22 stores this year and has plans to close a total of 50 outlets across the UK.

Meanwhile the footwear retailer Clarks is also fighting for survival amid the coronavirus crisis, drawing up plans for permanent store closures.

Ian Guider, markets editor of the Business Post, joined us for our daily business update with this story and more, including:

• More than 700,000 now on unemployment payments including 500,000 on pandemic emergency payment
• Tax exiles get break from residency rules because of COVID-19

Listen to the interview in full by pressing the play button on this page.