Debenhams shuts all stores, around 12,000 jobs lost

25/01/2021 8:00:00 PM

Debenhams, United Kingdom

Debenhams shuts all stores, around 12 ,000 jobs lost

Debenhams, which has long struggled with fierce online competition, will see its brand live on however after British online fashion group Boohoo earlier said it had bought the group's intellectual property assets.Debenhams collapsed last month, having struggled to adapt from a bricks-and-mortar business long before the coronavirus pandemic forced shoppers online.

Its stores will reopen following the lifting of the UK lockdown to liquidate stock, administrators FRP Advisory, brought in to salvage parts of the business, said in a statement Monday."Once Debenhams stores are able to reopen and the stock liquidation can continue in stores, the website will be operated by Boohoo.

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