BooHoo buys Debenhams for £55m - but stores will stay shut
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manchestereveningnews.co.ukdirect to your inboxDebenhams department stores are set to shut for good, despite being bought by online retailer Boohoo.Manchester-brand Boohoo has purchased the Debenhams brand and website for £55m in a deal that will see the Debenhams name survive, but the company’s remaining 118 stores close for good.The deal will see Debenhams products sold by Boohoo from early next year.Around 12,000 jobs remain at risk as part of store closures.The move will allow enough time for liquidators to continue closing the retailer’s sites once they are allowed to reopen after Covid-19 lockdown restrictions are lifted.Debenhams had already announced significant job losses and the permanent closure of six stores, including its flagship outlet on London’s.
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