I'm with you. Anything by that group. Absolutely vile.
(In response to a PP, who clearly understands business, pointing out that Boohoo.com, who have bought the Debenhams brands but not the stock and who won’t be taking over the leases or the staff, aren’t known for their high ethical standards)
Here’s where it goes a bit wrong...
It should be mandatory to retain a % of staff/stock/real estate in these deals for a period of time.
Why? You do realise that nobody would touch Debenhams or any business in similar circumstances if this were the case?
Debenhams failed for a reason. What buyer wants to take on massive expensive lease liabilities ‘for a period of time’ and 12,000 furloughed staff for whom NI, pension contributions etc still need to be paid?
At least the sale of the brand names will raise some money and ensure that some creditors are paid.
All those clothes and hardware that will likely be destroyed. How wasteful and detrimental to the environment.
No, they will most likely go to TK Maxx and other discounters if they still haven’t sold post liquidation. The liquidators will reopen the stores and get rid of most of the stock that way.