THE WHAT? Some 600 sales staff are set to lose their jobs as The Estee Lauder Companies announced the closure of all counters across UK department store chain, Debenhams, according to a report published by The Times.
THE DETAILS Shortly after Lauder’s announcement, new Debenhams owner Boohoo announced the eventual closure of all physical locations, putting some 12,000 jobs at risk. Boohoo CEO told The Guardian that it was too early to say how many jobs may be saved but some roles in beauty were expected to be saved.
THE WHY? Boohoo’s acquisition of the Debenhams’ brands and associated intellectual property rights does not include retail stores, stock or financial services. The fast fashion producer will use the department store’s website – a top 10 retail website by traffic – to create ‘the UK’s largest marketplace’.