214 more stores to disappear from high street
2,450 jobs will be lost as Boohoo buy big names
Last updated 8th Feb 2021
Boohoo has announced it has bought the brands of Dorothy Perkins, Wallis and Burton, but not the 214 stores.
The brands will add to Boohoo's growing empire, with the online fashion retailer having already bought the Debenhams brand earlier this year.
This new deal means a further 2,450 jobs will be lost, in addition to the 12,000 at risk from the Debenhams takeover.
It is estimated around 260 jobs will be saved, comprising predominantly of head office roles which will move with the brands to Boohoo.
Boohoo confirmed the £25.5 million deal on Monday, which completes the sell-off of Philip Green's Arcadia group which collapsed last December.
Last week, Asos announced it had bought the Topshop, Topman and Miss Selfridge brands from the failing Arcadia empire.
John Lyttle, Boohoo Chief Executive, said of the deal: "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 multi-brand platform, and we are looking forward to bringing these brands on board.”
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