Boohoo is to pay £25m for Dorothy Perkins, Wallis and Burton in a deal set to catapult the fashion brands to an online-only future at the expense of thousands of high street jobs.
The online fashion specialist, which has already snapped up the Debenhams name amid the COVID-19 bloodbath for physical retailers, said it was to buy all the e-commerce and digital assets of the three brands, as well as their stock.
It confirmed the deal with administrators did not include the brands’ retail stores, concessions or franchises.
The collapse of Sir Philip Green’s Arcadia empire in December placed 13,000 jobs at risk and only a fraction were saved when Boohoo rival ASOS landed the top names, including TopShop, a week ago.
This article was originally published by Sky.com. Read the original article here.