Bricks-to-clicks evolution accelerates as online retailers swallow high street brands
Clothing retailer Boohoo has acquired all of the intellectual property assets of Debenhams, including customer data and selected contracts, for £55m. The 243-year-old department store filed for administration twice in 12 months, the second time during the coronavirus pandemic. Separately, Asos will pay £295m for four brands from collapsed retail group Arcadia - Topshop, Topman, Miss Selfridge and HIIT. However, the deal does not include the physical shops. Sir Philip Green’s failed empire entered administration in November last year, putting 13,000 jobs across about 450 stores at risk.
