Boohoo goes shopping

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High street buys

Boohoo is set to buy Debenhams for £50 million, in a bid to makeover the online side of the department store. Debenhams went into liquidation in December, and this deal will see the high street icon close its remaining shops. That could mean the loss of up to 12,000 jobs.

More high street buys

The collapsed Arcadia group is up for grabs by another online retailer, Asos. The deal is likely to include the group’s high profile brands like Topshop and Topman. But, like Boohoo, Asos isn’t interested in any of the bricks and mortar stores.

Fewer first-time buyers

There were 13% fewer first-time buyers in 2020, compared to the year before. Sales slumped after the housing market was shut for months - and when it reopened, house prices rose and mortgages were in short supply. Despite the dip, first-time buyers accounted for 50% of overall buyers - the same as in other years.

Minimum payments rise

Some Barclaycard customers will see higher minimum payments from tomorrow. The changes will be tailored to each customer, and are designed to help customers clear their debt faster. At the same time, Barclaycard will scrap the charge for exceeding a credit limit.