British fast-fashion group Boohoo has said it is in “exclusive discussions” with the administrators of collapsed retail empire Arcadia over the acquisition of the Dorothy Perkins, Wallis and Burton brands.
But the company added that the discussions “may or may not result in agreement of a transaction. A further announcement will be made when appropriate”.
It comes just days after Boohoo announced it had acquired iconic department store chain Debenhams for 55 million pounds. The deal included the brand and website of the high street stalwart, but not its store network.
If this new deal goes ahead, it means Arcadia’s former assets would be split between two British fashion giants, with rival Asos having already announced it was in exclusive talks to acquire Arcadia’s flagship brand Topshop, as well as Topman, Miss Selfridge and HIIT brands.
Arcadia fell into administration at the end of November, putting 13,000 jobs at risk.
The business has been struggling over the past few years to compete with new online competitors - such as Boohoo and Asos - a problem that was further compounded by the pandemic.
Photo credit: Dorothy Perkins,