Boohoo Group set to acquire collapsed Debenhams department store chain
Debenhams administrators earlier said they were talking with 'third parties regarding the sale of all or parts of the business'.
Online fashion retailer Boohoo Group is set to acquire troubled department store chain Debenhams.The cut-price deal will result in the closure of Debenhams' remaining stores, according to a report in the Financial Times which has been confirmed by Sky News.
The purchase price is expected to be about £50m, the newspaper said.Both companies declined to comment.It comes just days after Debenhams administrators FRP Advisory said they were.AdvertisementAt the time, they announced that six stores would not reopen, including the flagship Oxford Street shop in central London.
The 242-year-old department store started a liquidation process last month after failing to secure a last-minute rescue sale. Read more: Sky News »
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Hmm wasn’t boohoo the centre of controversy for paying their staff £3 an hour back in 2015? They are constantly under scrutiny for ethical issues. The are snapping up all the high street names and selling online. They have come a long way from their market stall in Manchester. Sad sad sad. There will be a backlash after the pandemic. We will want to shop on the high street
Sad day for the popular High Street shop, online only going to put thousands of employees out of a job 😢. Did Boo Hoo start online? Why the misleading headline? They’re looking to buy the Debenhams name and website only, not the physical stores. That still results in 12000 job losses, and the loss of large retail space across many towns and cities. Boohoo aren’t saving jobs, just a popular website domain.
And Modern slavery for all! Good move. That sucks !! I had my Bespoke Suits made by them 2 years ago!!! They provided Customer Service par excellence!!!! Good news keeps people in jobs 👍 It will only end in tears 😭 19p an hour wages again to make the clothes then? Saw the shop this week being emptied out sad to see
How are things with the capitol now? Can't wait for Debenhams to be overrun with sweat shop clothes 😬 Funny Hilco say sale unlikely Should of waited for the Trump hot spots.