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Friday | March 5 | 2021

Online fashion retailer Boohoo acquires the Debenhams brand and website

Online fashion retailer Boohoo has acquired the Debenhams brand and website for £ 55 million ($ 75 million), but will not take over the retailer 118 stores or the workforce, BBC reports.

Thus, it is possible that almost 12,000 employees of the Debenhams chain of stores to be laid off.

Boohoo has already bought several brands, Oasis, Coast and Karen Millen, but without the associated stores.

In December, Debenhams went into liquidation, after the failure of negotiations with JD Sports, after the coronavirus pandemic (Covid-19) significantly affected the retail sector.

The sale of the 124 Debenhams stores began in December, with administrators continuing to look for deals for the entire business, but also for certain parts.

Recently, the company announced that six units will not be reopened, including the famous store on Oxford Street in London.

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