Retails shaken anew on acquisition news

Around 25,000 U.K. retailing jobs remain under threat even as it emerged Monday that online fashion company Boohoo has bought Debenhams, one of Britain’s oldest department store chains, and rival ASOS confirmed it wants to pick up parts of Arcadia Group.

The developments illustrate the huge changes taking place in Britain’s retailing scene during the coronavirus pandemic. With shops that sell nonessential items closed again, many retail outlets, big and small, face the prospect of closing for good.

Boohoo’s acquisition of the Debenhams brand and website for $75 million will see it turn a traditional retailing outlet into an online-only operation.