Boohoo confirms exclusive Arcadia talks
The deal would see the e-commerce giant snap up all three retailers excluding the HIIT brand which are sold at Burtons
Register to get 1 more free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Just days after Boohoo confirmed the acquisition of Debenhams, the online retailer has announced it is in exclusive talks with Arcadia to purchase three of the collapsed group’s brands.
In a short statement Boohoo said it was exclusive discussions with the administrators of Arcadia over the acquisition of the Dorothy Perkins, Wallis and Burton brands.
The deal would see the e-commerce giant snap up all three retailers excluding the HIIT brand which is sold at Burton’s.
Earlier this week, Boohoo acquired all of the intellectual property assets of Debenhams in a £55m deal that will now see the highstreet store move into the online market.
At the time John Lyttle, CEO for Boohoo, described the move as an “important development for the group”, adding that he intends to seek more “growth opportunities” arising from the accelerating shift to online retail.
Arcadia’s administrators are also in talks with online retailer ASOS over the acquisition of the Topshop, Topman, Miss Selfridge and HIIT brands. If both deals are completed by the rival e-commerce chains it is likely that Arcadia will no longer have a physical store estate in the UK.
