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Business

Boohoo buys Burton, Dorothy Perkins and Wallis for £25.2 million

By: Chris Britcher cbritcher@thekmgroup.co.uk

Published: 09:12, 08 February 2021

Updated: 09:18, 08 February 2021

Online fashion retailer Boohoo has completed a deal to buy the Burton, Dorothy Perkins and Wallis brands - but it will signal the end of all their once familiar high street stores.

The online giant announced this morning it will pay £25.2 million for the brands from the administrators of the once-mighty Arcadia Group.

Arcadia Group stores Burton and Dorothy Perkins in Maidstone - all the brands' stores will now close

It only last month concluded a £55m deal to buy the Debenhams brand.

The three stores had outlets across Kent and were once the mainstays of many town centres.

However, when Arcadia went into administration last year, all its stores were put up for sale.

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Asos, another online outlet, confirmed last week it had completed a deal to buy other Arcadia big names; Topman, Topshop and Miss Selfridge.

All the deals will see traditional bricks and mortar outlets closing - and the loss of jobs for those employed at the stores.

Boohoo chief executive John Lyttle. Picture: Boohoo

It is thought around 2,450 jobs will go as part of today's deal.

All brands will now operate as online retailers only.

John Lyttle, Boohoo's CEO, 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 onto our proven multi-brand platform, and we are looking forward to bringing these brands on board."

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