Boohoo Group Poised To Purchase Debenhams Online Stores

BOOHOO Group Poised To Purchase Debenhams Online Department Stores

The online fashion retailer Boohoo are lining up the purchase of troubled department chain Debenhams’ online stores, for a reputed cut-price £50million, according to a report in The Guardian that was later confirmed by Sky News.

Administrators for Debenhams, the FRP Advisory, had a few days ago allegedly said they were talking with “third parties regarding the sale of all or parts of the business”, but apparently, neither company would comment on that, though it would seem that the high street stores would close down.

The flagship 242-year-old Debenhams store on London’s Oxford Street started the liquidation process back in December 2020 after a potential take-over rescue deal fell through, although Debenham’s itself had been in administration since April of last year, allegedly having already been in financial difficulty long before the pandemic.

In the 1950s, Debenhams was the UK’s largest and most profitable department store groups, totalling 110 high-street stores, and was a standard sight on most of the UK’s large city streets and main shopping centres.

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