ARCADIA GROUP SOLD TO BOOHOO!

DOROTHY PERKINS AND BURTONS SOLD TO BOOHOO!

Online fashion retailer Boohoo has bought the Dorothy Perkins, Wallis and Burton brands from failed retail group Arcadia for £25.2m

 
The deal includes the brands and online businesses, but not the 214 shops nor 2,450 workers employed in them.
 
It completes the sell-off of Sir Philip Green’s once mighty Arcadia group which fell into administration last year.
 
Last week, rival Asos bought Arcadia’s other leading brands, Topshop, Topman, Miss Selfridge and HIIT.
 
The Arcadia businesses employed 13,000, a fraction of which will carry on into employment with the new owners.
 
Administrators Deloitte, which has been conducting the sales, said around 2,450 staff would lose their jobs as a result of the Dorothy Perkins, Wallis and Burton sale, and the stores would permanently close.
 
Deloitte said staff had been emailed on Monday and would informed over the course of the day.
 
Approximately 260 jobs will be moving with the brands to Boohoo, mainly head office functions such as brand design, buying and merchandising, and the digital part of the business.
 
Last month, Boohoo bought the Debenhams brand and website for £55m.
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Image by Adobe Stock from stock.adobe.com -- DATE OF ATTRIBUTION: 30/11/2024