viewBoohoo Group PLC

boohoo confirms talks to buy Arcadia’s Dorothy Perkins, Wallis, Burton

A deal would lead to thousands of job losses as the online retailer would not incorporate stores

Boohoo Group PLC - boohoo confirms talks to buy Arcadia’s Dorothy Perkins, Wallis, Burton

boohoo Group PLC (LON:BOO) has confirmed it is in “exclusive discussions” with Arcadia’s administrators to acquire Dorothy Perkins, Wallis and Burton, excluding HIIT, brands.

The AIM-listed online retailer, which snapped up Debenhams’ brand and intellectual property for £55mln on Monday, said the talks may or may not result in a transaction.

READ: UK high street goes online as boohoo buys Debenhams, ASOS is frontrunner for Topshop

It is understood that boohoo is willing to pay around £25mln for the trio of high street brands but would not incorporate stores or employees, Sky News reported.

Earlier this week it also emerged that rival ASOS PLC (LON:ASC) was the frontrunner to rescue Philip Green’s Topshop, Topman, Miss Selfridge and HIIT brands.

It is all bad news for the UK high street which will see some historical names leave their brick and mortar sites.

Arcadia folded with an estimated £350mln pension black hole that owner Philip Green is under pressure to plug, and is now being managed by administrators at Deloitte, which was expecting the final bids last Monday. Up to 13,000 jobs are at risk.

Last month, Arcadia's fashion brand Evans was sold to Australian firm City Chic Collective for £23mln, although the deal did not include the plus-sized clothier’s store network but just the brand, its customer base and inventory.

Shares rose 1% to 335.7p on Friday morning.

--Adds shares--

Quick facts: Boohoo Group PLC


Price: 259.7 GBX

Market Cap: £3.28 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Iofina says 'our business has been strong' reporting record revenue and...

Iofina PLC (AIM:IOF, OTC:IOFNF, FRA:IF7) (AIM:IOF, OTC:IOFNF, FRA:IF7) Tom Becker joins Proactive London to explain what drove their record revenue and profit in the first half.  Debt also fell in the first half of the year despite production outages caused by extreme weather and reduced...

2 days, 10 hours ago

2 min read