The appointed management company of Debenhams Plc said today that Debenhams has closed down and sold its brands and will close all its UK locations for good. Sources told AFP that some 12,000 employees at Debenhams are at risk of losing their jobs.
Boohoo, the British online fashion group, announced today that it has bought the intellectual property of the Denburnham department store, allowing Boohoo to continue using the Denburnham brand.
Boohoo has acquired its customer data and other assets from the external management company that saved part of the Den Burnham business, a deal worth £55 million, Boohoo said in a statement.
Geoff Rowley, chief executive of FRP Advisory, the management company appointed by Denburnham, said: “I expect that the agreement with Boohoo will provide some jobs, but I regret that this outcome will not protect the jobs of Denburnham employees after the liquidation period.
Denburnham closed last month, resulting in thousands of job losses. The Dan Burnham brick-and-mortar business has long struggled to adapt to online competition after the 2019 coronavirus disease (Chinese Communist Virus, COVID-19) outbreak forced people to switch to online shopping.
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