ASOS Close to Deal to Buy Topshop, Miss Selfridge for $411 Million

Fashion

January 30th, 6:35pm

Asharq Al-Awsat

Topshop's parent company Arcadia was placed into administration in November last year, putting more than 13,000 jobs at risk. (Getty Images)

British online fashion retailer ASOS is on the verge of a deal to buy Topshop and Miss Selfridge from the administrators of British tycoon Philip Green’s Arcadia Group for almost 300 million pounds ($411 million), Sky News reported. ASOS could announce a deal as early as Monday, Sky said. Arcadia went into administration in November, putting more than 13,000 jobs at risk and becoming Britain’s biggest corporate casualty of the COVID-19 pandemic. ASOS and the administrators of Arcadia were not immediately available for comment.

from Asharq AL-awsat https://english.aawsat.com/home/article/2775006/asos-close-deal-buy-topshop-miss-selfridge-411-million