Debenhams Brand Sold for £55 Million, All Stores to Close

A pedestrian wears a mask as he walks past "Store Closing" signs in the window display of a Debenhams in Manchester, northern England, on Dec. 2, 2020. Paul Ellis/AFP via Getty Images

UK department store Debenhams has sold its brands and websites to online fashion retailer boohoo group PLC, Debenhams’ administrators FRP Advisory confirmed on Monday.

boohoo has paid a cash consideration of £55 million ($75 million) to acquire the global rights to the Debenhams brand, all its in-house brands, and its websites.