Jan 25, 2021

Boohoo buys Debenhams brand and website for £55m

Boohoo has bought the Debenhams brand and website for £55m. However, the fast fashion retailer will not be taking on any of the company's remaining 118 High Street stores or its workforce. A closing down sale at 124 Debenhams stores began in December, as administrators continued to seek offers for all, or parts of the business. Boohoo said Debenhams was expected to relaunch on Boohoo's web platform in early 2022. Boohoo said its plans included "Transforming Debenhams through the development of an exciting online marketplace, capitalising on the sector's structural shift to online". "The group will only be acquiring the brands and associated intellectual property rights - the transaction does not include Debenhams' retail stores, stock or any financial services," Boohoo added.

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