Debenhams news and archive

Boohoo revenue and profit decline, announces fund raising plan

In an interim results announcement for the six month period, Boohoo said revenue of 619.8 million pounds, declined by 15 percent reflecting difficult market conditions. The company added that the revenue growth was also impacted by the continued growth of the marketplace with its commission-only revenue model. Boohoo also announced a proposed...

PeopleFeatured

Boohoo appoints Dan Finley as chief executive

British online fast-fashion giant Boohoo has named Dan Finley as the group’s chief executive officer, defying major shareholder Frasers Group to install its owner Mike Ashley at the helm. In a statement, Boohoo said Finley, formerly of JD Sports and currently CEO of Debenhams, will take up his new role with immediate effect, succeeding John...

Business

Debenhams plans new websites for Ireland and Australia

Boohoo-owned Debenhams is preparing its expansion into international markets, with new websites set to launch in Ireland and Australia before Christmas. This is according to CEO Dan Finley, who confirmed in an interview to Drapers that the return to these markets was part of a wider expansion drive. This will also involve the launch of a Nasty...

Fashion

Debenhams debuts graduate award, relaunches Designers at Debenhams

British department store e-tailer Debenhams has unveiled the winner of its first ‘Designers at Debenhams Catwalk to Commercial’ award coinciding with the relaunch of its Designers at Debenhams programme. During last week’s Graduate Fashion Week (GFW), Manchester Fashion Institute’s Eleanor McMahon was named the winner of the retailer’s debut...

Business

Hundreds of former Debenhams staff win redundancy legal battle

Over 400 former Debenhams employees have won a legal battle against the department store chain after losing their jobs when the company fell into administration. Once a cornerstone of the UK high street, Debenhams collapsed in 2020 after being impacted by various factors, including the pandemic and mounting competition from online rivals....

Business

Debenhams preparing to launch division for premium brands

Fashion retailer Debenhams is understood to be preparing for the launch of a new division on its website dedicated to premium brands. The Boohoo Group-owned company has set about repositioning itself as a digital department store, expanding its third-party brand offering across beauty, fashion and homeware. Now it seems the retailer is set to...

Retail

Community space takes over former Debenhams store in London

An abandoned Debenhams building in London has finally been transformed into a multipurpose creative space nearly two years after the fashion retailer closed its doors. Set in the top floor of Hounslow’s Treaty Centre, ‘The Loft’ will act as an incubator, allowing businesses to gain their first high street retail experience in what will aim to be...

Retail

Sports Direct to open Dublin flagship at former Debenhams site

Frasers Group is to open a new Sports Direct flagship store on Henry Street in Dublin. The group will take over a 200,000 square foot space which is currently occupied by Inditex’s Zara and formerly by Debenhams prior to its collapse. Ger Wright, Frasers Group’s managing director of sports, said in a statement seen by Retail Gazette: “Dublin is...

BusinessFeatured

Under Boohoo ownership, Arcadia brands and Debenhams remain unprofitable

When fast fashion chain Boohoo acquired Debenhams in 2021 there was little inclination to restore the department store to its former glory. Instead Boohoo bought its brand equity, the Debenhams website and customer base, for 50 million pounds. But like other brands under Boohoo’s portfolio, which include former Arcadia Group’s Dorothy Perkins,...

Business

Debenhams posts loss in most recent fiscal year

Iconic British retailer Debenhams remained in the red in the fiscal year ended February 2022 following its acquisition by Boohoo Group in 2021. According to new filings at Companies House, the department store chain made a pre-tax loss of 11.77 million pounds in the period, as it made revenue of 56.96 million pounds, of which 52.41 million...

Business

Mike Ashley steps up legal battle following Debenhams fall out

Business tycoon Mike Ashley has reportedly stepped up his legal battle over the collapse of department store chain Debenhams. The Sports Direct founder is said to be heading to court after his 180 million pound stake in the retailer lost value when the chain went bankrupt two years ago, according to The Mail on Sunday. As seen in legal papers...

Retail

90 percent of former Debenhams stores remain empty

Debenhams’ former high street stores are yet to see new life as they remain empty and unused. A report by the Local Data Company, cited by the Guardian, said 90 percent of Debenhams stores are still vacant, nearly one year after the company ceased trading. At its height Debenhams operated 150 stores, but after its collapse the brand was bought...