Boohoo has bought collapsed department store group Debenhams for £55m but will shut all remaining stores
Deal confirms Debenhams brand will disappear from high street after 242 years with up to 12,000 job losses
Boss Mahmud Kamani in battle with Amazon as he wants to dominate homeware and beauty as well as clothes
His son and PrettyLittleThing founder, Umar Kamani, says the family used to make weekly trips to Debenhams
Retail sales have plummeted by the largest amount since records began as the coronavirus pandemic paralysed the shopping sector.
A cycle of lockdowns and harsh restrictions to stop the spread of Covid-19 have seen High Streets decimated.
Today the Office for National Statistics said sales were down 1.9 per cent, the biggest slump since figures started being collated in 1996.
There was a slight 0.3 per cent rise in sales during December, but this was not enough to save the year.
The high street has been decimated by the strict restrictions and lockdowns this year
Normally busting parts of London remained abandoned this week under strict lockdown
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Steps by UK Government to empower businesses By: Click to explore our newest AI enabled Analytics. Share
The UK government has taken a slew of measures to uplift the country s business sectors and ease trade relations between UK and other countries. This includes the UK Internal Market bill, UK s Membership in CPTPP, UK-Japan FTA and many others. Fibre2fashion presents a detailed report.
UK Internal Market Bill
The UK government has introduced a new bill in parliament to protect jobs and trade across the whole of UK after the transition period ends. From January 1, 2021, powers in a range of policy areas previously exercised at EU level will flow directly to the devolved administrations. Without urgent legislation to preserve the status quo of seamless internal trade, rules and regulatio