- Huw Hughes |
JD Sports and Authentic Brands could reportedly team up to acquire Topshop, the flagship brand of the collapsed Arcadia Group.
UK sportswear retailer JD Sports and Authentic Brands, the US owner of Forever 21 and iconic department store chain Barneys, are in the early stages of talks over a joint bid for Topshop, Sky News reports.
It comes just days after reports that US fashion company G-III Apparel had also entered the race to acquire assets from Arcadia. Other companies thought to be interested in snapping up Arcadia’s remaining brands include Boohoo, Frasers Group and Next.
Final bids for Arcadia’s assets are due within the coming days.
Arcadia, which also owns brands Burton and Dorothy Perkins, called in administrators from Deloitte at the end of November after its sales took a big hit from months-long lockdowns. The move put some 13,000 jobs at risk.
In January, Arcadia’s administrators sold the Evans brand, e-commerce and wholesale business to rival City Chic Collective Limited for a cash consideration of approximately 23 million pounds.
Images courtesy of JD Sports/Silverburn