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Showing results for tags 'closures'.
The Boohoo Group has acquired the collapsed Debenhams department store chain for £55M. The fashion retailer has bought the Debenhams brand and website but it will not take on any of the firm's remaining 118 stores or its staff. We hope that the staff all manage to find jobs during this already challenging time.
The company had warned at the start of August that it was considering such a move, but had not given precise details. The closures come as the company formally launched a CVA in a bid to restructure the Group and keep it afloat. The company, which currently has around 454 restaurants in the UK, said on Tuesday it has finalised a proposal to reduce its restaurant and rental costs via a company voluntary arrangement (CVA). It said that although the majority of its restaurants were profitable before lockdown was imposed, earnings had been declining across the Pizza Express es