Boohoo has already bought a number of High Street brands out of administration. It snapped up Oasis, Coast and Karen Millen, but not the associated stores.Debenhams has struggled for years with falling profits and rising debts, as more shopping has moved online. It called in administrators twice in two years, most recently in April.
The firm had already trimmed its store portfolio and cut about 6,500 jobs since May, as it struggled to stay afloat.
up the workers!!
'Debenhams has struggled for years with falling profits and rising debts, as more shopping has moved online.' An absolute inevitabilty, sadly. People cannot pretend to be all shocked/outraged, then go off & order yet another dress suit & a supermop from Amazon.
Bad move IMO. This is their way of putting a higher price tag on the tat they sell.
It would be great if boohoo could do the same for DebenhamsIRE
Whats the point in that isnt that still Boo Hoo ! We want the stores/jobs saved. 🙏🏻
Hardly a victory..
Shops disappearing from the high street is more bad news for the Consumer, Boohoo might own it now but this will mean less jobs if moved online. ThePriceWePay
Actually disgraceful. They're trying to do this with Arcadia as well. SMDH. Shouldn't be allowed to put staff out of work like this.
😑🥺
Not sure I'd shop with them based on this:
People still think Debenhams stores will be saved... Mike Ashley had bid to keep the physical stores open and protect thousands of jobs, yet his bids were (for some reason) rejected by the administrators... Now they’re selling the brand for less than half of Ashley’s offer 🤔
Cheer up
Another billionaire buys another high street brand 😏
Boo what Boo them, no doubt they will go bust themselves in a couple of years... Yaaaawwwwnnnn....
Buying staff sounds a little odd.
This isn't a saving btw, they just bought the brand, they're still shutting down all stores and stuff.
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Boohoo buys Debenhams brand and website for £55mFast-fashion retailer Boohoo buys Debenhams website and brand for £55m - but will not take on the stores or its staff Thank God for bringing bitcoin to man,it has being a great source of blessing to all of man kind who have passion for bitcoin trading. Now the poor are getting rich over night and the rich getting richer. michealweldone1 thank you for your proper management🙏🏻🙏🏻 . Wonder if somebody as big as Ikea could snap up the physical estate to launch their long-planned city centre stores? Another massive amount of empty high street retail space.
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