Major fashion retailer Debenhams shuts all stores, around 12,000 jobs lost | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Major fashion retailer Debenhams shuts all stores, around 12,000 jobs lost

AFP | London

The Daily Tribune – www.newsofbahrain.com

UK department store chain Debenhams is to shut all its outlets with the loss of around 12,000 jobs, a source told AFP on Monday.

Debenhams, which has long struggled to compete 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.

Boohoo, which is also buying the brands Maine, Manataray, Principles and Faith, said the remaining stores will be wound down when they are in a position to reopen.