Boohoo to move Debenhams online only

Boohoo to move Debenhams online only Ireland

Boohoo to move Debenhams online only

Boohoo to move Debenhams online only

In Irish fashion news, Boohoo has snapped up one of Britain’s oldest retail names Debenhams. The Manchester based on-line e-tailer bought the Debenhams which was established back 1778 in the UK for just short of €62 million euro.

Boohoo which was founded in Manchester, England back in 2006 by Mahmud Kamani and Carol Kane are today one of the leading on-line producers and sellers of Ladies, Men’s and Children fashion goods.

In a court hearing in the UK yesterday (26/01/2021) Judge Daniel Schaffer issued a winding-up for the centuries old fashion house at an on-line hearing at the London Insolvency and Companies Court.

As part of the purchase agreement by the Boohoo Group, the UK e-tailer will take ownership of the brand “Debenhams” and website business but not the physical stores.

At the hearing, Judge Daniel Schaffer described Debenhams as a rudderless ship drifting in an ocean of insolvency which needs to be brought into port.

Schaffer also requested that the official receiver should now be brought in to assess the position after making the winding up based on his own judgement to the dismay of the shareholders of Debenhams.

The Boohoo Group who paid £55 million pounds as part of the deal will see all Debenhams items and products sold by them from early in 2022.

Last year, Debenhams axed thousands of retail jobs in both Ireland and the UK after the collapse of the company and at the end of last year stopped taking orders from Ireland on their Irish website.

In a statement released by Boohoo they commented that this deal represents a fantastic opportunity” to target new customers and launch into the beauty, sports and homewares market for the first time.

This move by Boohoo is expected to see them pulling away from any attempt to buy the doomed Arcadia Group which owns Topman, Topshop and Miss Selfridges. On-line retailer ASOS (As Seen On Screen) are now expected to complete the purchase the Arcadia fashion labels in the coming days.

 

Boohoo to move Debenhams online only

Please follow and like us:

 

error

Enjoy this blog? Please spread the word :)