Online fast-fashion retailer Boohoo has acquired the Debenhams website and brand for £55 million

Boohoo +  Debenhams

But the deal with the collapsing network administrators does not include their department stores and puts 12,000 jobs at risk

Boohoo CEO Mahmud Kamani said the deal was transformational and accelerated his ambition "to be a leader, not just in fashion e-commerce, but in new categories including beauty, sport and home goods.

Boohoo, which was driven by increased internet shopping during the pandemic, has already purchased other street brands outside the administration, including Oasis, Coast and Karen Millen. It intends to rebuild and relaunch Debenhams' website.

Source: News UK