London
UK department store chain Debenhams is to shut all its outlets, administrators for the collapsed group said Monday, with the loss of around 12,000 jobs. Debenhams, which has long struggled with fierce online competition, will see its brand live on however after British online fashion group Boohoo earlier said it had bought the group’s intellectual property assets. Debenhams collapsed last month, having struggled to adapt from a bricks-and-mortar business long before the coronavirus pandemic forced shoppers online. Its stores will reopen following the lifting of the UK lockdown to liquidate stock, administrators FRP Advisory, brought in to salvage parts of the business, said in a statement Monday. —AFP
