The Lincoln Debenhams store will close for good, despite online retailers Boohoo buying the company’s name and website for £55 million.
The buyout will see all of chain’s 118 stores close, losing over 12,000 jobs as a result.
Debenhams has spent the last two years fighting off bankruptcy, calling in administrators twice in the last two years.
The writing was seemingly on the wall in August when the high street retailer slashed over 2,500 jobs after slow trading post-lockdown.
A closing-down sale in December swept across all Debenhams stores in the country, before it was announced that six stores would not reopen after lockdown.
Boohoo has said that Debenhams is expected to relaunch online in early 2022, but will continue to operate on its own website until then.
The online retailer said it intends to expand Debenhams’ product range and transform the business “through the development of an exciting online marketplace.”