Pakistan(National Times)- Here\u00a0is a timeline of how the department store chain Debenhams went from the highs of being a household name to the lows of administration. It has now resurfaced as a brand that Boohoo hopes will help it tide over supply chain issues, weak demand, and fierce competition from the likes of e-commerce platforms Shein and Temu. 1778 \u2013 William Debenham joined Thomas Clark in a partnership to manage a draper\u2019s store at 44 Wigmore Street in London, founding Debenhams. 1928 \u2013 Debenhams is listed on the London Stock Exchange. 2003 \u2013 A consortium that includes CVC Capital Partners takes Debenhams private. 2006 \u2013 The company is listed once again on the London Stock Exchange. Jan 10, 2019 \u2013 Angry investors force Debenhams Chief Executive Sergio Bucher off the board and the chairman out of the company. Both executives are opposed by billionaire Mike Ashley\u2019s Sports Direct at the company\u2019s annual general meeting. Sports Direct owns a 29.7% stake in Debenhams. March 14, 2019 \u2013 Debenhams\u2019 biggest shareholder, Sports Direct, makes an unsecured loan offer with conditions that include the appointment of Mike Ashley as CEO. April 8, 2019 \u2013 Debenhams rejects an offer from Sports Direct to underwrite a 150 million pound rights issue in exchange for a CEO role for Mike Ashley. April 9, 2019 \u2013 Sports Direct says it does not intend to make an offer to buy Debenhams. April 9, 2019 \u2013 Debenhams enters administration for the first time, wiping out equity investors including Sports Direct. May 9, 2019 \u2013 The creditors of Debenhams support a restructuring plan that will see 22 stores closed in 2020, putting 1,200 jobs at risk. April 6, 2020 \u2013 Debenhams goes into administration for the second time in 12 months, seeking to protect itself from legal action by creditors during the COVID-19 crisis. December 1, 2020 \u2013 Shutters come down as administrators announce Debenhams will be wound down. December 7, 2020 \u2013 Mike Ashley\u2019s Frasers Group says it is in talks to buy Debenhams from administrators in a rescue deal. January 25, 2021 \u2013 Boohoo acquires the heritage brand Debenhams and other business assets, including all its in-house brands and websites, for 55 million pounds. May 5, 2021 \u2013 After more than 240 years in business, Debenhams says it will permanently close its remaining stores. October 18, 2024 \u2013 Boohoo says CEO John Lyttle would step down and launches a review of strategic options for its various divisions. October 24, 2024 \u2013 Frasers Group, now Boohoo\u2019s largest shareholder, calls for a general meeting of Boohoo to appoint Mike Ashley as a director and CEO. November 1, 2024 \u2013 Boohoo names Dan Finley, who was head of Boohoo\u2019s digital department store unit Debenhams, as its new CEO. November 6, 2024 \u2013 Frasers insists that Boohoo \u201cpublicly confirm\u201d that no asset disposals are conducted without shareholder approval after board\u2019s refusal to allow shareholders to vote on key decisions such as the CEO appointment. November 8, 2024 \u2013 Boohoo questions Frasers\u2019 interests and raises concerns over Frasers\u2019 independence and the level of control it desired. November 21, 2024 \u2013 Frasers looks to oust Boohoo\u2019s co-founder Mahmud Kamani as a director after he was removed as chair at Boohoo, and appoint Ashley and restructuring specialist Mike Lennon as directors. December 13, 2024 \u2013 Boohoo says it was willing to offer Frasers one board seat but not to Mike Ashley. December 20, 2024 \u2013 Boohoo shareholders vote against Mike Ashley\u2019s appointment to the board. January 21, 2025 \u2013 Boohoo shareholders vote against the removal of co-founder Mahmud Kamani from the board. March 5, 2025 \u2013 Frasers discloses about 29% stake in Boohoo. March 11, 2025 \u2013 Boohoo rebrands itself as Debenhams, names new CFO and says it will pivot to a marketplace model.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pakistan(National Times)- Here\u00a0is a timeline of how the department store chain Debenhams went from the highs of being a household name to the lows of administration. It has now resurfaced as a brand that Boohoo hopes will help it tide over supply chain issues, weak demand, and fierce competition from the likes of e-commerce platforms […]<\/p>\n","protected":false},"author":2,"featured_media":100524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-100523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international","entry"],"yoast_head":"\n