Boohoo in talks with administrators to buy three Arcadia brands

Online retail giant Boohoo could be on the acquisition trail once more.

Responding to market speculation, the Manchester-based ecommerce group confirmed this morning that it is in exclusive talks with the administrators of high street retail group Arcadia over the acquisition of the Dorothy Perkins, Wallis and Burton, excluding HIIT, brands.

Discussions do not involve any of the brands’ high street stores or jobs.

It cautioned that these discussions may or may not result in agreement of a transaction, and said a further announcement will be made when appropriate.

On Monday this week Boohoo announced that it had acquired the brand and website of struggling high street chain Debenhams in a £55m cash deal, saying it intends to rebuild and relaunch the Debenhams platform, helping further its ambition to lead the fashion eCommerce market, and grow into new categories including beauty, sport and homeware.

Boohoo has already bought several high street brands out of administration, including Oasis, Coast and Karen Millen.

Reports claim that Boohoo has offered £25m for the Arcadia brands.

The brands are under the umbrella of Sir Philip Green’s Arcadia Group, which he bought for £850m in 2002.

However, Arcadia, which employed around 13,000 people and ran 444 stores across the UK, entered administration at the beginning of December, with debts totaling £750m.

The jewels in the Arcadia crown, Topshop and Topman, failed with gross liabilities of more than £550m.

Online retailer Asos confirmed on Monday that it was in exclusive talks to buy the Topshop, Topman, Miss Selfridge and HIIT brands, but has no plans to acquire the stores.