Experimental evidence is presented that the degradation of red-emitting GaP Light Emitting Diodes (LEDs) is dominated by degradation of bulk radiative efficiency on the p-side of the junction, a conclusion at variance with earlier studies. The damage is induced during degradation only in the presence of forward bias current and is localized at the p-n junction within a range of several microns. Bulk material damage is also observed on the n-side of the junction.