boohoo.com

Fast fashion retailer Boohoo has entered talks to buy Dorothy Perkins, Wallis and Burton brands.

All three brands form part of the now bankrupt Arcadia Group, which fell into administration last year.

Boohoo appears to be reaping the opportunities that have emerged from traditional brick and mortar retail stores’ pandemic-related woes, after it paid £55 million (€62 million) to buy Debenhams. The deal will see Debenhams’ remaining 118 UK high street stores disappear, and the likely loss of around 12,000 jobs.

It is being reported that the fast-fashion retailer has offered £25m (€28.3m) for Arcadia Group’s Dorothy Perkins, Wallis and Burton brands, and will take the same approach by shutting all related stores.

As reported by the Guardian, Boohoo confirmed “that it is in exclusive discussions with the administrators of Arcadia over the acquisition of the Dorothy Perkins, Wallis and Burton brands”.

“These discussions may or may not result in agreement of a transaction. A further announcement will be made when appropriate.”

Boohoo owns popular brands such as Pretty Little Thing and Nast Gal, and has already purchased Oasis, Coast and Karen Millen brands out of administration, but not their respective high street stores.

On Monday, online fashion giant Asos entered talks to buy Arcadia’s Topshop, Topman, Miss Selfridge and HIIT brands.

The Body Shop’s fair-trade suppliers might be left in limbo after collapse of UK company

February 19, 2024
by Anthea Cachia

The company is known of its standards of ethical, fair trade and cruelty free products

Ever wonder how many videos are on YouTube? Researchers reveal it’s a whopping 14 billion

February 10, 2024
by Robert Fenech

The way YouTube is used makes it most aptly described as infrastructure, say researchers

European Parliament to establish TikTok presence despite app’s ban on corporate phones

February 7, 2024
by Anthea Cachia

The Parliament is adopting this approach to fight disinformation and get the message across, while retaining cyber security