Online fashion retailer Boohoo has bought Dorothy Perkins, Wallis and Burton for £25m, completing the break up of Sir Philip Green’s Arcadia Group.
The deal to buy the three remaining brands out of administration does not include any of their 214 UK stores, putting about 2,450 jobs at risk.
Boohoo said on Monday that it had agreed to buy “the e-commerce and digital assets and associated intellectual property rights, including customer data, related business information and inventory of the Burton, Dorothy Perkins and Wallis brands”. Only 260 head office roles – involved in design, buying, merchandising and digital operations – will be transferred to Boohoo under the deal.
The deal to buy the three brands comes just weeks after Boohoo bought the Debenhams brand in a £55m deal that also excluded its high street sites, leading to the likely loss of up to 12,000 jobs.
Online retailer Asos bought Arcadia brands Topshop, Topman and Miss Selfridge last week for £330m. The brands-only deal did not include any of the stores or warehouses. At least 2,500 high-street shop workers are at risk of losing their jobs as a result. Arcadia’s plus-size clothing brand, Evans, was sold to the Australian retailer City Chic Collective for £23m in December.
Commenting on the latest deal, the Boohoo chief executive, John Lyttle, said: “Acquiring these well known brands in British fashion out of administration ensures their heritage is sustained, while our investment aims to transform them into brands that are fit for the current market environment.
“We have a successful track record of integrating British heritage fashion brands on to our proven multibrand platform, and we are looking forward to bringing these brands on board.”
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