ESSEX high streets are set to lose well-known retailer Debenhams in the coming weeks after it was snapped up by Boohoo. The online retailer has secured a £55 million deal to buy the brands and website of Debenhams, confirming the demise of the 242-year-old retailer’s history on the high street. The department store firm is currently winding down operations at its 118 shops, including ones in Colchester, Southend, Basildon and Chelmsford. They are all expected to shut for good by March. In a separate move, online retailer Asos has told investors that it is in exclusive talks to buy the Topshop, Topman, Miss Selfridge and HIIT brands and online businesses from administrators for Sir Philip Green’s Arcadia empire.
ESSEX high streets are set to lose well-known retailer Debenhams in the coming weeks after it was snapped up by Boohoo. The online retailer has secured a £55 million deal to buy the brands and website of Debenhams, confirming the demise of the 242-year-old retailer’s history on the high street. The department store firm is currently winding down operations at its 118 shops, including ones in Colchester, Southend, Basildon and Chelmsford. They are all expected to shut for good by March. In a separate move, online retailer Asos has told investors that it is in exclusive talks to buy the Topshop, Topman, Miss Selfridge and HIIT brands and online businesses from administrators for Sir Philip Green’s Arcadia empire.
ESSEX high streets are set to lose well-known retailer Debenhams in the coming weeks after it was snapped up by Boohoo. The online retailer has secured a £55 million deal to buy the brands and website of Debenhams, confirming the demise of the 242-year-old retailer’s history on the high street. The department store firm is currently winding down operations at its 118 shops, including ones in Colchester, Southend, Basildon and Chelmsford. They are all expected to shut for good by March. In a separate move, online retailer Asos has told investors that it is in exclusive talks to buy the Topshop, Topman, Miss Selfridge and HIIT brands and online businesses from administrators for Sir Philip Green’s Arcadia empire.
Updated / Monday, 25 Jan 2021
14:22
Boohoo and ASOS have moved to buy brands from collapsed retail giants, including Arcadia - which owns Topshop
Two of the UK s largest online retailers, Boohoo and ASOS, have moved to buy brands from collapsed retail giants in deals underlining how the pandemic has accelerated dramatic shifts in the retail sector.
Boohoo has secured a £55m deal to buy the brands and website of Debenhams, confirming the demise of the 242-year-old retailer s shops.
The department store firm is currently winding down operations at its 118 stores, which are expected to shut for good by March.
In a separate move, ASOS told investors that it is in exclusive talks to buy the Topshop, Topman, Miss Selfridge and HIIT brands and online businesses from administrators for Philip Green s Arcadia empire.