Boohoo ‘set to buy’ Debenhams’ online business for £50m

Historic retailer could agree deal with internet firm this week, but high street stores are likely to close

Internet fashion retailer Boohoo has reportedly agreed to buy the online business of Debenhams, in a move which will see the department store chain close its remaining high street shops, according to sources close to the deal.

The transaction may be announced this week, according to the Financial Times. The newspaper said it understands the purchase price is likely to be around £50m.

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Boohoo ‘set to buy’ Debenhams’ online business for £50m