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Business

Boohoo in talks to buy Dorothy Perkins, Wallis and Burton just days after £55m deal to secure Debenhams brand

By: Chris Britcher cbritcher@thekmgroup.co.uk

Published: 09:04, 29 January 2021

Updated: 09:08, 29 January 2021

Less than a week after buying up the Debenhams brand, online fashion retailer Boohoo has its sights set on acquiring three more big high street names familiar to Kent shoppers.

The firm has confirmed it is in "exclusive discussions" with the administrators of the Acadia group - the once mighty retail empire run by Sir Philip Green - to buy the Dorothy Perkins, Wallis and Burton brands.

Burton and Dorothy Perkins in Maidstone

However, just like the Debenhams deal, is is thought none of the physical stores will remain, with the brands only operating online.

And that means the loss of jobs for staff who worked in the outlets.

All three had a number of stores operating across Kent.

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Boohoo acquired the Debenhams brand and website this week in a deal worth £55 million after the firm was liquidated last month.

In a short statement, Boohoo told investors the talks with Arcadia "may or may not result in agreement of a transaction".

Boohoo completed a deal to buy Debenhams earlier this week

It added a further announcement will be made when appropriate.

Reports suggest Boohoo is offering around £25m for the three familiar high street names.

Arcadia went into administration last year.

Another online retailer, Asos, confirmed earlier this week it was in talks with Arcadia's administrator over acquiring Topshop, Topman and Miss Selfridge.

It added its board "believes this would represent a compelling opportunity to acquire strong brands that resonate well with its customer base".

Burton is one of the brands which could be sold to Boohoo from the former Arcadia empire

Administrators of Arcadia have already struck a deal with an Australian company to buy its plus-size clothing brand Evans.

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City Chic will pay £23m for the 90-year old brand but will also not keep physical stores open.

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