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Boohoo buys three Arcadia brands

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Founded in 2006, Boohoo announced that it bought Arcadia Group-owned brands Dorothy Perkins, Wallis and Burton after the 232-year-old British retail chain bought the Debenhams brand.

In the statement it was indicated that the sales contract only includes the mentioned brands and does not cover a total of 214 stores belonging to these brands.

British online ready-to-wear retail company Asos recently announced that it has bought Arcadia Group-affiliated TopShop, Topman, Miss Selfridge, HIIT brands for 295 million.

“2 THOUSAND 450 EMPLOYEES WILL BE DISMISSED”

In the statement made by Deloitte, which manages the sales process, it was reported that it was decided to close the stores affiliated with the brands and a total of 2,450 employees would be laid off.

In the UK, retail store closures where products that are not considered essential for protection against the epidemic are closed, restaurants, cafes and entertainment venues remain closed for a long time, and rents that are hard to pay are taking to bankrupt retailers. .

In the statement made on January 4 by the British Retail Research Center (CRR), it was noted that the retail industry in the country experienced the worst period in the last 25 years, and 176 thousand people who worked in the retail sector lost their jobs in 2020 during the epidemic process.

Peacocks and Jaeger, Edinburgh Woolen Mill (EWM Group), DW Sports, Oliver Sweeney Trading, Bensons for Beds, TM Lewin, Lee Longlands, Monsoon, the British branch of Victoria’s Secret, Oasis and Warehouse Group, Debenhams, Cath Kidston and Leading retail Networks like Laura Ashley went bankrupt during the epidemic.

Finally, Arcadia Group, one of the largest clothing chains in the country and containing many famous brands such as Top Shop, Burton and Dorothy Perkins, announced that it went bankrupt in November.

Source: www.ntv.com.tr

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