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Pitney Bowes Announces New and Enhanced Cross-Border Services as Parcel Volume Growth Exceeds 100% in One Year
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Pitney Bowes Announces New and Enhanced Cross-Border Services as Parcel Volume Growth Exceeds 100% in One Year
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Can homes fill the holes on our high streets?
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Behind Boohoo Group’s ‘transformational’ Debenhams deal
Will the Debenhams brand name and beauty market share help Boohoo Group achieve its ambition of becoming the “UK’s largest marketplace”?
Earlier today it was announced that Boohoo Group has bought Debenhams brand and website for £55m, in a deal that does not include its 124 stores, financial services or stock. All 12,000 Debenhams staff will be made redundant.
The Debenhams website will relaunch on Boohoo Group s platform in early spring. To allow for a winding-down of Debenhams operations, its website will continue to operate for an agreed period before the relaunch.
Boohoo Group said it intends to rebuild and relaunch the Debenhams website to grow into new categories, and create “the UK s largest marketplace” across fashion, beauty, sport and homeware, where it will add new brands over time. The etailer said Debenhams’ own fashion brands, including Maine, Mantaray and Principles, will be absorbed into
Julian Dunkerton, chief executive of Superdry, called the latest extension “an incredibly important move” as it buys more time for retailers that have been struggling to pay rents amid the coronavirus crisis.
Fergus Patterson, managing director for Northern Europe at Gant, agreed: “We have now managed to reach an agreement with the majority of our landlords over taking joint pain for what has happened during coronavirus, but not all, so the extension is very gratefully received. It gives us more time to discuss, negotiate and hopefully reach a mutual agreement [over rents].”
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Helen Dickinson, chief executive of the British Retail Consortium, said the news came “in the nick of time for many retailers”.