AInvest Newsletter
Daily stocks & crypto headlines, free to your inbox
_6ff029a61766633234293.png?format=webp&width=1186&height=250)
Debenhams to Remain Online-Only Amid Boohoo Rebrand, No Plans to Reopen Physical Stores
ByAinvest
Tuesday, Mar 11, 2025 9:11 am ET1min read
Debenhams, owned by Boohoo Group, has no plans to reopen physical stores, despite launching pop-up stores in different locations. The group's shares fell after it revealed plans to rebrand itself and change its name to Debenhams Group, focusing on online sales, particularly through the Debenhams marketplace, which is expected to drive growth.
In a significant move, Debenhams, the British department store chain owned by Boohoo Group, has announced that it has no plans to reopen its physical stores despite launching pop-up locations in various areas [1]. Instead, the company will focus on its online sales and rebrand itself as Debenhams Group.According to reports, Boohoo, a pure-play online retailer, signed an agreement to acquire parts of Debenhams' business, including all in-house brands and websites, for a cash consideration of 55 million pounds [1]. The acquisition will take full effect after the completion of the current stock liquidation program, which is ongoing online.
The closure of Debenhams' physical stores does not affect the company's former holding, Magasin du Nord in Denmark, which continues to operate independently. Boohoo intends to rebuild and relaunch the Debenhams platform as part of its ambition to become a top 10 retail website in the UK by traffic [1].
Debenhams' online platform had approximately 300 million UK website visits per year before the acquisition, making it a significant player in the UK retail market. Boohoo also acquired customer data and related business information, as well as selected contracts, from Debenhams [1].
The transaction does not guarantee the retention of jobs for Debenhams' employees beyond the winding-down period, and some job opportunities may be provided by Boohoo [1]. However, Geoff Rowley, joint administrator and partner of FRP Advisory, expressed optimism that a new Debenhams-branded business will emerge beyond the pandemic [1].
The acquisition of Debenhams' assets is not Boohoo's first foray into the UK retail market. In recent years and months, the company has bought struggling British retail chains Karen Millen, Oasis, and Warehouse, as well as operating Pretty Little Thing, another fashion site [1].
References:
[1] WWD. (2021, March 8). Boohoo Snaps Up Debenhams Brand, Websites. Retrieved from https://wwd.com/feature/boohoo-snaps-up-debenhams-brand-websites-1234712564/
Ainvest News articles are AI-generated using advanced large language model (LLM) technology designed to analyze and synthesize publicly available data and news. While AI tools assist in producing initial drafts and insights, all AI generated content published on Ainvest is subject to comprehensive human editorial review before publication. A designated human editor reviews, verifies, and approves each article for factual accuracy, coherence, and compliance with AInvest Fintech Inc’s editorial and disclosure standards.
Despite these review procedures, the information provided may still contain inaccuracies, incomplete data, or time sensitive references due to the inherent limitations of AI generated analysis and evolving changes. The material is provided strictly for informational and educational purposes and does not constitute personalized investment, legal, or financial advice. Readers should independently verify all facts, figures, and statements before making any decision based on this content.
AInvest Fintech Inc. its affiliates, and partners accept no liability or responsibility for any direct or consequential losses arising from reliance on this content. All articles and analyses are subject to revision, update, or removal without prior notice to maintain accuracy and integrity in our publications.
Comments
No comments yet