All 118 Debenhams stores to close permanently as Boohoo buys website for £55million
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mirror.co.ukDebenhams stores will close for good, after Boohoo bought all of the intellectual property of department store from its administrators for £55million.
The website as well as customer data and related business information and selected contracts are included in the deal - but not the high street shops which are now expected to close for good.
Boohoo said it plans to rebuild and relaunch the Debenhams site, as it moves to become the top online fashion brand in the UK and expand into beauty, sport and homeware too.
Executive chairman Mahmud Kamani said: "This is a transformational deal for the Group, which allows us to capture the fantastic opportunity as eCommerce continues to grow. "Our ambition is to create the UK's largest marketplace.
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