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We started Monday morning with news that online retailers Boohoo and Asos are swooping in on two of Britain’s major high street brands:

Boohoo confirmed that it was snapping up the Debenhams brand in a £55m deal that excludes the retailer’s remaining stores, leaving 12,000 jobs at risk.

Meanwhile, Asos put rumours to rest and said it was in exclusive talks with administrators of Arcadia Group to buy up the Topshop, Topman, Miss Selfridge and HIIT brands.

Retail trade union Usdaw is seeking urgent meetings with Debenhams’ administrators and said staff are being treated appallingly.
In one piece of good news for the high street, Springboard data suggests “lockdown fatigue” spurred 9% rise in UK retail footfall, at least to stores that are allowed to stay open during current restrictions
Asos shares jumped 5.3% and Boohoo rose 5.7% by Monday afternoon. – Guardian

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