Boohoo’s Arcadia buyout triggers 2,450 job losses

Boohoo’s £25 million purchase of Dorothy Perkins, Burton, and Wallis has been confirmed by Arcadia administrators, resulting in around 2,450 job losses.

The online fashion retailer’s purchase does not include the brands’ 214 brick-and-mortar stores, which will all permanently close.

Around 260 employees from across the three Arcadia companies will continue on at Boohoo.

Last week online rival ASOS bought Sir Philip Green’s TopShop, Topman, Miss Selfridge and HIIT brands for £265 million, along with £30 million for the remaining stock.

The online clothing store also did not include the companies’ stores in its purchase of the well-known brands.

Deloitte, administrator for Arcadia, said that completion of the transaction is expected on 9th February.

The Boohoo buyout marks the completion of the sale of all Arcadia brands, following ASOS’ acquisitions, and the purchase of Evans by City Chic in December last year.

Total sales combined have been valued at more than £500 million.

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