Boohoo buys Debenhams brand and website for €61.9m – but stores to close

Boohoo has bought the Debenhams brand for £55m (Martin Rickett / PA)

Online fashion retailer Boohoo has bought the Debenhams brand and website for £55m (€61.9m) in a deal that will see the eponymous department store name survive, but the company’s remaining stores close for good.

The deal will see Debenhams products sold by Boohoo from early next year, allowing enough time for liquidators to continue closing the retailer’s sites once they are allowed to reopen after Covid-19 lockdown restrictions are lifted.