Norwich Debenhams looks doomed as Boohoo to buy brand
- Credit: Denise Bradley
Debenhams is set to announce that all its remaining 118 stores around the country, including the one in Norwich, are to close after administrators failed to find a buyer.
According to the BBC, the firm's brand and website is to be bought by fellow fashion retailer Boohoo, with an announcement potentially coming as early as later this morning.
But a full rescue deal for the physical business has not materialised, meaning all stores are set to close with 12,000 jobs likely to be lost around the country.
Stores like the one in Orford Place, Norwich, which has already been running a closing down sale since last month, will join those such as London's Oxford Street which had already announced its closure.
Debenhams joins a long line of brands to be rescued by Boohoo, including Karen Millen, Coast and Oasis, but like with those deals no stores will be saved, meaning retail staff will likely lose their jobs.
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Neither Debenhams nor Boohoo commented to the BBC.
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