UK fashion retailer Boohoo in talks for Arcadia brands
Image Credits: Aharq Al Awsat
London, Jan 29 (AFP/APP): British online fashion group Boohoo said Friday that it is in discussions with administrators of collapsed retail giant Arcadia to buy three of its brands, including Dorothy Perkins.
The announcement comes just days after Boohoo agreed to purchase the intellectual property assets of failed department store chain Debenhams. “Boohoo Group Plc… confirms that it is in exclusive discussions with the administrators of Arcadia over the acquisition of the Dorothy Perkins, Wallis and Burton brands,” it said in a brief statement. “These discussions may or may not result in agreement of a transaction.
A further announcement will be made when appropriate.” Boohoo-rival ASOS had revealed Monday that it was in exclusive talks with Arcadia’s administrators about purchasing the Topshop, Topman, Miss Selfridge and HIIT brands. Separately, Debenhams’ administrators announced Monday that the UK chain will shut all its outlets with the loss of around 12,000 jobs. Both Arcadia and Debenhams collapsed last month — together risking the loss of 25,000 jobs — having struggled to transition from a bricks-and-mortar business long before the coronavirus pandemic forced shoppers online.
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