Adds Arcadia's response Jan 23 (Reuters) - British on-line
Adds Arcadia’s response
Jan 23 (Reuters) – British on-line trend retailer ASOS Plc ASOS.L has emerged as a shock front-runner to purchase the Topshop model from the directors of British tycoon Philip Inexperienced’s Arcadia Group, Sky Information reported on Saturday.
ASOS is within the lead to purchase the model for greater than 250 million kilos ($342.10 million), the report stated. https://bit.ly/3990EGm
ASOS and Arcadia declined to remark.
Retailer Subsequent Plc NXT.L stated on Thursday it had pulled out of the bidding because it was unable to satisfy the worth expectations of the collapsed trend chain.
ASOS isn’t holding any talks about shopping for Topshop shops, Sky Information stated, citing unnamed insiders. Nevertheless it was additionally eager to amass Arcadia’s Miss Selfridge model alongside Topshop and Topman, Sky stated.
ASOS is competing in opposition to rivals together with Boohoo Group BOOH.L, U.S. retailer Genuine Manufacturers Group, which is working with JD Sports activities Style Plc JD.L, and Chinese language trend group Shein, the report added.
Arcadia went into administration in November, placing greater than 13,000 jobs in danger and changing into Britain’s largest company casualty of the COVID-19 pandemic.
($1 = 0.7308 kilos)
(Reporting by Rama Venkat in Bengaluru; Enhancing by Alex Richardson and Paul Simao)
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