Fashion brand Boohoo has bought the Debenhams brand and website for £55m.
However, the remaining high street stores will close and the 12,000 strong staff will go.
Administrators failed to rescue the chain store.
A closing-down sale at Debenhams began in December.
Online fashion retailer Boohoo Group agrees to buy the Debenhams brand for $75 million but not its department stores, meaning thousands of jobs will be lost https://t.co/uzCmbXsU40
— Bloomberg (@business) January 25, 2021
