Online fashion giant Boohoo has bought Arcadia brands Dorothy Perkins, Wallis and Burton out of administration in a £25.2m deal.
Boohoo has bought the brands’ e-commerce and digital assets and associated intellectual property rights.
The deal does not include the retailers’ physical stores and the brands will become online-only.
All 214 Dorothy Perkins, Wallis and Burton stores will now permanently close, resulting in thousands of high street job losses.
In total, 260 employees from the design, buying, merchandising and digital teams will transfer to Boohoo.
The deal – which comes just weeks after Boohoo bought Debenhams – is expected to complete tomorrow.
Boohoo said the deal will grow its market share across a broader demographic, strengthen its menswear proposition and add new own-label brands for its Debenhams marketplace.
Boohoo chief executive John Lyttle said: “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.
“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.”