ASOS has confirmed that it is in exclusive discussions with the administrators of Arcadia over the acquisition of the Topshop, Topman, Miss Selfridge and HIIT brands.
Arcadia Group entered administration late last year after the closure of non-essential stores during the second UK Covid-19 lockdown impacted trade. The group’s retail portfolio also includes Dorothy Perkins, Outfit, Burton, Evans and Wallis.
In a statement issued this morning, ASOS said: “The board believes this would represent a compelling opportunity to acquire strong brands that resonate well with its customer base. However, at this stage, there can be no certainty of a transaction and ASOS will keep shareholders updated as appropriate. Any acquisition would be funded from cash reserves.”