LONDON, United Kingdom — Bonds of UK retailers extended declines on Tuesday as the industry's crisis deepens in the run-up to the Christmas holiday.

New Look Retail Group £700 million ($886 million) of notes due in July 2022 fell for a 16th day to about 46 pence, the lowest in six months, according to data compiled by Bloomberg. The British fashion chain is reducing the number of stores and pulling out of China as part of a strategic review of its international markets.

Debenhams' £200 million of bonds due in July 2021 were little changed at a record low of 63 pence after declining the most on Monday among notes in Bank of America Merrill Lynch’s sterling high-yield index.

Matalan’s £130 million of six-year bonds sold in January hovered near a record-low of 81 pence, while Shop Direct’s 550 million pounds of securities due in November 2022 slipped 0.4 pence on the pound to a six month-low of 81.5 pence, the data show.

By Katie Linsell; editors: Shelley Robinson, Abigail Moses and Eric Pfanner.