Feb 8, 2021
Boohoo to buy Burton, Dorothy Perkins and Wallis brands for £25m
Boohoo has agreed to buy Burton, Dorothy Perkins and Wallis out of administration, marking the final stage in the break-up of Sir Philip Green's once-mighty fashion empire Arcadia. The online-only group on Monday said it was set to acquire the digital assets and intellectual property of the brands for £25.2m. As with recent acquisitions completed by Boohoo and its rival Asos - both of which have done well during the pandemic - stores are not included in the deal, leaving behind thousands of jobs. Boohoo said that Burton, Dorothy Perkins and Wallis had over 2m customers last year and would help support its build-up of a digital marketplace using the Debenhams brand, which it bought in January for £55m. The transaction, which is expected to close on Tuesday, will lead to the closure of 216 shops across the UK occupied by the three brands, according to documents circulated by administrators Deloitte. The three brands made about £428m in revenues last year, with a loss before interest, tax, depreciation and amortisation of £14.3m, according to Boohoo. Boohoo expects to have integrated the new brands into its platform by February next year.
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