Companies

Boohoo buys several brands from Arcadia

Feb 10, 2021 United Kingdom

The United Kingdom-based online fashion retailer acquired Dorothy Perkins, Burton and Wallis' brands, its intellectual property and stocks for 25.2 million British pounds in cash

The network of retail stores, concessions or franchises of the brands is not part of the transaction and will be closed permanently, as reported by Deloitte, the consultant responsible for the liquidation of the group.

Only 260 employees from the three brands, including design, purchasing, marketing and digital, will be reemployed at Boohoo. The collapse of Sir Philip Green's Arcadia empire in December placed 13 000 jobs and more than 400 stores at risk - READ all about it HERE.

At the beginning of the current month, Asos has announced it was acquiring Topshop, Topman and Miss Selfridge. The brick-and-mortar network was left out of the deal, as Asos is only operating online. So, a total of 70 stores and 2 500 employees stay at risk with. According to what is being reported, only 300 head office staff will be part of the deal, to help Asos with "design, buying and retail partnerships" - more details HERE.

Asos and Boohoo are only taking on board a small fraction of Arcadia's workforce.

Image credits: white-rose.co.uk

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