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- A group of companies including high street giant Next is believed to in talks to buy Sir Philip Green’s Topshop empire.
- Arcadia, which collapsed in 2020 will be auctioned. The deadline for final bids has been fixed midnight of Monday, 18 January.
- The development is touted to fetch around £200 million to the administrator Deloitte who is overseeing the sale of Arcadia business.
- Next has joined hands with US-based Davidson Kempner and is pitted against Authentic Brands, which has joined hands with JD Sports for a deal.
- Arcadia, which was bought over in 2002, houses big brands like Topshop, Miss Selfridge, Burton, Dorothy Perkins, Wallis and Topman.
- Next led by Lord Simon Wolfson had recently bought lingerie brand Victoria's Secret, is in the race of acquisition with its consortium partner Davidson Kempner.
- Wolfson has though also clarified that the consortium is not interested in retaining all of Arcadia's brands and they are focusing mainly on the Topshop, the prime asset of Arcadia.
- The major competition the consortium is facing is from the US owner of the Barneys department store, the Authentic Brands. It had already held talks over a co-bidding with JD Sports, and Frasers Group of Mike Ashley’s.
- There was another prominent name of fast-fashion online retailer Boohoo, but is now not being seen in the race.
Topshop empire up for sale
2 min read | January 18, 2021 10:20 AM GMT | By
Team Kalkine Media
