Boohoo has completed the break-up of Sir Philip Green’s Arcadia group with the purchase of Dorothy Perkins, Wallis and Burton.
The beauty and fashion retailer was tipped as the frontrunner to take on the trio, following its purchase of beleaguered department store chain Debenhams last month.
The deal, worth £25.5m, will catapult the brands to an online-only future, but will have huge consequences for its workforce.
Boohoo confirmed it would be dropping all 214 of the trio’s retail stores, which will not reopen when restrictions from the Covid-19 lockdown are eased.
The agreement administrators at Deloitte also said concessions and franchises will shutter permanently, resulting in the loss of around 2,450 jobs.
A small portion of its staff (260) will be transferred to Boohoo’s headquarters.
"We are delighted to announce the acquisition of the assets associated with the online businesses of the three established brands Burton, Dorothy Perkins and Wallis," said Boohoo's CEO John Lyttle.
"Acquiring these well-known brands in British fashion out of administration ensures their heritage is sustained, while our investment aims to transform them into brands that are fit for the current market environment.
"We have a successful track record of integrating British heritage fashion brands onto our proven multi-brand platform, and we are looking forward to bringing these brands on board."
Boohoo’s announcement comes hours after Asos revealed it would not be taking on the retail outlets for the other half of Arcadia’s portfolio.
All of Topshop, Topman Miss Selfridge and HIIT will close, impacting 2,500 jobs.
However, the beauty maker said it will take on a tiny fraction of the brands’ workforce from its retail, design and buying divisions.
