German retailer Peek & Cloppenburg acquires Debenhams' Magasin du Nord

31 May '21

2 min read

Pic: DaLiu / Shutterstock.com

Debenhams’ Danish department store Magasin du Nord has been acquired by Germany-based retailer Peek & Cloppenburg. The business was bought by Debenhams in 2009 for £12.9 million and was put up for sale in September last year. Debenhams UK has also sold its brand name and online business to online retailer Boohoo and closed all stores in the UK this month.

Founded in 1868, Magasin du Nord has seven stores located in Copenhagen, Lyngby, Roedovre, Fields, Odense, Aarhus and Aalborg. It also has an online platform.

“Magasin du Nord, like Peek & Cloppenburg, is a retail company with a long tradition. Due to the current market dynamics, the opportunity has arisen to bring Magasin du Nord under our umbrella and we are convinced that both companies will benefit from this new partnership,” Peek & Cloppenburg management said in a statement.

“We are pleased to have found a trustworthy and long-term partner in the family-owned company Peek & Cloppenburg, which sees the potential of Magasin du Nord and appreciates its entrepreneurial roots. Our two companies have much in common and together have around 275 years of experience as a multi-brand retailer. We look forward to shaping the future of retail together and delighting our customers inspire,” said Peter King, part of the management of Magasin du Nord.

The Danish store chain will continue to operate as an independent business.

Fibre2Fashion News Desk (KD)

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