The Stoke-on-Trent Debenhams store is set to close after online retailer Boohoo bought the company’s brand and website.
Debenhams has a branch in the Potteries Centre in Hanley which is now set to close as part of a winding down process.
The company had previously revealed it hoped to open a number of branches – including the one in the city centre – when the Government eased the coronavirus restrictions.
But Boohoo has now said it plans to launch Debenhams as an online-only brand as early as next year, the Press Association reports.
The sale will mean Boohoo will be able to access the Debenhams database of clients as well as expanding into different markets.
However, 12,000 jobs are now at risk after the company confirmed it would not take any of the 118 High Street stores or the workforce.
Boohoo chief executive John Lyttle said: “The acquisition of the Debenhams brand is an important development for the group, as we seek to capture incremental growth opportunities arising from the accelerating shift to online retail.
“We have developed a successful multi-brand direct-to-consumer platform that continues to disrupt the markets that we operate in.
“The acquisition represents an exciting strategic opportunity to transform our target addressable market through the creation of an online marketplace that leverages Debenhams’ high brand awareness and traffic through the development of beauty and fashion partnerships connecting brands with consumers.”
It is understood the deal with Boohoo – which currently operates in fashion aimed at young people – will not get the current Debenhams stock as part of the deal.