The online fashion retailer Asos has snapped up the Topshop, Topman, Miss Selfridge and HIIT brands from failed retail group Arcadia.
The deal is said to be worth £295m.
Sir Philip Green's Arcadia group went into administration at the end of 2020 casting doubt over 13,000 retail jobs and its future on the high street.
Asos is acquiring the stock and the brands.
However, it is not taking on the high street stores, which will mean most of the retail jobs from the companies in the deal will be lost.
It will pay £265m for the brands and £30m for the stock.
Chief Executive of Asos, Nick Beighton, said: "We are extremely proud to be the new owners of the Topshop, Topman, Miss Selfridge and HIIT brands.
"The acquisition of these iconic British brands is a hugely exciting moment for Asos and our customers and will help accelerate our multi-brand platform strategy.
"We have been central to driving their recent growth online, and under our ownership, we will develop them further, using our design, marketing, technology and logistics expertise. And working closely with key strategic retail partners in the UK and around the world."
Asos said its acquisition of the four brands will “resonate” with its core customer base of “20-somethings” in the UK.
It said it expects the deal to complete later this week, adding that it will also see £20 million worth of one-off restructuring and transaction costs.
Other brands in the Arcadia stable that have not yet been sold include Dorothy Perkins, Burton and Wallis.
It emerged last week that Manchester-based retailer Boohoo was in 'exclusive talks" to snap up those brands.
Boohoo also sealed a deal last week to purchase the Debenhams brand and website for £55m.
However, the price did not include any of the retailers remaining 118 high street stores or its workforce, resulting in around 12,000 job losses.
