Share Prices & Company Research

Market News

25 Jan 2021 | 07:00

Asos in exclusive talks to buy Topshop out of administration

(Sharecast News) - Asos is in exclusive talks to acquire Topshop and a number of other Arcadia-owned brands out of administration, it was announced on Monday. The online fashion chain said it was in discussions with the administrators of Arcadia over the acquisition of the Topshop, Topman, Miss Selfridge and HITT brands.

"The board believes this would represent a compelling opportunity to acquire strong brands that resonate well with its customer base," the company said, adding that there can be no certainty of a transaction at this stage.

It is understood that the talks are focused on the brands only, however, and do not include the bricks and mortar retail estate, according to various media outlets, including Sky News and the BBC.

The Issa brothers, who recently acquired supermarket chain Asda, were thought to have made bids for Topshop, along with China's Shein. Asos is now in exclusive talks, however.

Sir Philip Green's Arcadia, which also owns Burton and Dorothy Perkins, went into administration last November, hit by both changing shopping patterns and the Covid-19 pandemic. At the time of its collapse, it employed around 13,000 people and had 444 shops.

Asos said any acquisition would be funded out of cash reserves.

The update came as rival online fashion retailer Boohoo announced it was snapping up the Debenhams brand and online business in a £55m deal.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.