Boohoo Buys Wallis, Dorothy Perkins & Burton For £25 Million
8 Feb 2021
Boohoo, the online fashion retailer has completed the purchase of Wallis, Dorothy Perkins & Burton in £25 million acquisition. The sale of the 3 former high street staples represents the nail in the coffin to the Arcadia Group empire as well as the British high street.
This move is a follow up on the £55 million purchase of Debenhams, Boohoo made just last month. It also continues the trend of e-commerce giants gobbling up their predecessors with ASOS just purchasing TopShop and Miss Selfridge for a reported £330 million last week.
The deal includes the brands and online businesses, but the 214 physical shops with the 2,450 workers that occupy them were not part of the deal.
“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” said Boohoo’s chief executive John Lyttle.