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LONDON – Online fashion retailer Boohoo has purchased Debenhams brand and website for £55m but says it will not be taking on any of the firm’s remaining 118 High Street stores or workforce. The nature of the deal means up to 12,000 jobs at the department store chain are set to go.

Debenhams chain has been in the process of closing down, after administrators failed to secure a rescue deal for the business.

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