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Boohoo Buy Debenhams For £55M – Will ASOS Buy Topshop?

Fashion, Fashion & Lifestyle News
Tuesday, 26th January, 2021

Boohoo Buy Debenhams For £55M For The Brand but no shops

It was announced this morning that Boohoo was going to be buying Debenhams. The deal is for £55M and will be for the brand and it’s website, but for no stores.

It seems like there’s been lots of activity when it comes to acquisitions of the high street fashion brands in recent weeks. Only yesterday I was writing about M&S buying Jaeger, and today I’m writing about Boohoo buying Debenhams.

As mentioned, the deal doesn’t include any of the 118 stores which remained, or any of the staff in those stores. It’s a blow for the staff and those empty shops too.

It’s a sad story for the staff. In April 2019 Debenhams had 165 department stores and 25,000 staff. April 2020 that number was down to 142 shops and 22,000 staff. By the time April 2021 rolls around there will be no shops and no staff.

Tweet From Joel Hills From ITV 

The media is speculating that there will be a loss of 12,000 jobs at Debenhams.

At the same time it has emerged that ASOS could be the front runner for Topshop, Topman and other brands in the Arcadia group. That too has had a tough time, being in administration.

Just like the Boohoo/Debenhams deal, it’s said that ASOS are interested in the brands and website, but not the high street stores.

It has also been said that ASOS are not the only party interested in the Arcadia brands. Mike Ashley’s Frasers Group, JD Sports, Boohoo and even SheIn are reported to be interested in some or all of the Arcadia brands.

[sources used: here & here]

UPDATE: ASOS Buy Topshop, Topman & Miss Selfridge

It looks a really strange and sorry time for the high street. When we’re out of lockdown there might not be much of it left. Everyone has been leaving the high street for years and doing shopping online.

I did also feature my piece on why I think Primark don’t sell online. It could mean that Primark has more of the high street to itself, or people may forget about buying clothes in shops. I don’t think that will happen. We’ll have to wait and see.

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Michael Adams

About Michael

Michael Adams is the founder and editor of Michael 84, blogger and T-shirt designer from Newcastle, UK. Sharing men's fashion tips, style advice and lifestyle information for all guys.

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