“Debenhams” in Latvia – will continue its operations in Latvia

"Debenhams" in Latvia - will continue its operations in Latvia

“Debenhams” stores in Latvia and Estonia will continue to operate with the current brand, emphasized SIA CEO “DBH Ltd. Baltics”.

British online fashion group Boohoo announced on Monday that it had acquired the intellectual property assets of bankrupt British chain chain Debenhams plc, allowing the use of its brands.

Vixen emphasized that “DBH Ltd Baltic” is an independent Latvian company, which is supported by “Debenhams plc” based on a franchise agreement.

“As a result, Latvian and Estonian Debenhams stores, which are Debenhas franchise partners, will be able to continue to operate with the existing name,” explained Vixen.

He emphasized that the deal would stabilize the goods delivery system, and that thanks to Boohoo’s successful e-commerce solutions, e-commerce operations in Latvian and Estonian companies would be improved.

“Our stores in Latvia and Estonia continue to operate,” Vixen said.

There is currently a store in Latvia called “Debenhams”.

Leta has already reported that soon after Boho announced the acquisition of Debenhams plc’s intellectual property assets, Debenhams plc announced that it would close all of its stores, eliminating approximately 12,000 jobs.

Debenhams plc also announced the commencement of liquidation proceedings last December, as a potential buyer of the company dropped the plan.

Founded in 1813 and employing around 12,000 people, Debnehams was forced to appoint an insolvent administrator in April 2020 due to the coronavir epidemic, but after negotiations by British sportswear company JD Sports over the purchase of a supermarket chain, liquidation. The process started. At the same time, the company announced that it would continue to accept the offer to acquire the entire company or parts thereof.

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Boho later acquired the intellectual property assets of Debnehams plc.

The company “DBH Ltd Baltic” was registered in 2013, and according to “firms.li” information has a share capital of 2845 euros. The company’s sole owner is JSC Lawrence Asset Management, but the company’s real beneficiary is Eva Plowed-Rollingere. In the last financial year, which lasted until 31 August 2020, DBH Ltd Baltics had a turnover of EUR 3.989 million and a profit of EUR 52,867.

About the author: Seth Grace

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