Boohoo is buying up the U.K. high street and its stable of brands is growing by the week. With millions of pounds in cash on its balance sheet, there are likely more acquisitions to come.
After buying Debenhams’ assets earlier in the week, Boohoo is preparing to swoop on Dorothy Perkins, Wallis and Burton, although it isn’t interested in the physical stores.
The pure-play online giant has made a habit of buying struggling British high street retailers at knockdown prices, and moving their businesses online.
The ailing British department store chain has failed to find a buyer after filing for bankruptcy protection in early April, putting 12,000 jobs at risk.
The British retailer had been looking to strike a deal with its landlords to prevent store closures on both sides of the Atlantic.
Parent company L Brands files for credit protection in the U.K., a move that will impact the lingerie business’ 25 U.K. stores.
The company, which was forced to close its stores due to COVID-19, is seeking bankruptcy protection.
The British government has pledged 750 million pounds to charities, while businesses are moving to mitigate the impact of COVID-19.
The retailer said the move is a result of the COVID-19 lockdown measures, and that it plans to resume trading once U.K. government regulations are lifted.
Retailers of all kinds are putting beauty at the top of their retail strategies.
Debenhams names new ceo as chairman Terry Duddy steps down.
Last year alone, the industry generated 27.2 billion pounds in consumer spending.
The department store will roll out its new “lab” space concepts across 20 medium-sized stores by the end of the year.
Luxury eyewear brand LINDBERG discusses Danish design and its enduring ideation.