Online Retailer Boohoo Buys 3 Fashion Brands From Arcadia

British online fashion retailer Boohoo has bought three clothing brands owned by the collapsed Arcadia retail group for 25.2 million pounds ($34.5 million). Boohoo bought the inventory and online businesses of the Arcadia brands – Dorothy Perkins, Wallis and Burton. The deal did not include the brands’ 214 remaining U.K. shops, which will close, and around 2,450 employees were told Monday that their jobs have been axed. Read more at The Seattle Times.

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