Manchester-based online fashion giant Boohoo Group plc said on Monday it bought the Burton, Dorothy Perkins and Wallis brands from the administrators of Arcadia for £25.2 million — a move that completes the break-up of Philip Green’s empire.
Boohoo’s deal does not include any stores — putting thousands of jobs at risk.
“In the most recent financial year to 29 August 2020, the brands generated unaudited revenues of approximately £427.8 million across all channels and an unaudited EBITDA loss of £14.3 million,” said Boohoo.
“The ongoing businesses for the brands generated unaudited revenues of approximately £178.8 million over the same period.”
Boohoo CEO John Lyttle said: “We are delighted to announce the acquisition of the assets associated with the online businesses of the three established brands Burton, Dorothy Perkins and Wallis.
“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.”
Boohoo executive chairman Mahmud Kamani said: “This is a great acquisition for the group as we extend our market share across a broader demographic, capitalising on growth opportunities as more and more customers shop online.
“We continue to grow our portfolio of brands and customer base, strengthening our position as a leader in global fashion e-commerce.”