Sir Philip Green’s retail empire is broken up and shared between retail’s new dominant forces. The same could be said for Debenhams as it prepares to meet a similar fate.There can be few better examples of the massive shift that is taking place from bricks-and-mortar shops to online retail than the sight of Asos cherry-picking various Arcadia brands and Boohoo snapping up the Debenhams brand and website.Both Arcadia and Debenhams collapsed months ago, the result of both chains struggling for years to keep up with evolving shopping habits.
But make no mistake, this is the changing of the high street guard. Shares in Asos leapt 5pc, while the share price of Boohoo jumped 3pc.It will be a bitter pill for Green to swallow.
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