Manchester-based fashion retailer Boohoo has bought the Dorothy Perkins, Wallis and Burton brands in a deal worth £25.2m.
Boohoo is buying all the ecommerce and digital assets of the three brands, as well as their stock.
But all 214 Burton, Dorothy Perkins and Wallis stores – already shut due to Covid-19 restrictions – are to be permanently closed down, with the loss of 2,450 staff.
Around 260 jobs – mainly head office functions such as brand design, buying and merchandising, and digital – will be moving with the brands to Boohoo.
The deal completes the sell-off of Sir Philip Green’s Arcadia group, which fell into administration last year.
Last week, Boohoo’s rival Asos acquired Arcadia’s other leading brands, Topshop, Topman, Miss Selfridge and HIIT.
And last month Boohoo bought the Debenhams brand and website for £55m, in a deal that would also see all of the high street chain’s 118 stores close.
Boohoo CEO John Lyttle said: “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.
“We have a successful track record of integrating British heritage fashion brands onto our proven multi-brand platform, and we are looking forward to bringing these brands on board.”
