Is Boohoo set to swoop on Burton, Dorothy Perkins and Wallis?
Boohoo may not be about to get its hands on Topshop, as ASOS still looks to be the most likely buyer of Arcadia’s star label. But those brands ASOS isn’t looking at could soon be part of the Boohoo Group, setting the seal on what some will see as a worst-case scenario with every one of Arcadia’s labels becoming online-only.
Sky News reported that Boohoo is “in advanced talks” to acquire the Burton, Dorothy Perkins and Wallis brands from the administrator to Arcadia Group.
ASOS was earlier in the week reported to be in exclusive talks to buy Topshop, Topman, Miss Selfridge and HIIT, with the Topshop Oxford Circus flagship being possibly the only physical store to survive out of the hundreds Arcadia operates.
No Boohoo deal for the other three brands is guaranteed, but if the talks go well, an agreement could happen as early as next week.
Although other companies remain interested in the various Arcadia labels, Boohoo is reported to have said it would pay £25 million for the two womenswear labels and one menswear brand, days after it also announced its £55 million purchase of Debenhams, minus its store estate.
Debenhams and Arcadia between them employed around 25,000 pope and operated many hundreds of stores.
The Arcadia labels' purchase by pureplay online retailers (if that’s the eventual outcome) comes after the pandemic was the last straw for many in UK fashion retail following years of weakness after the Brexit vote in 2016.
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