
Activity around the break-up of the Arcadia fashion retail empire is continuing and while the sale of Evans is the only firm development so far, it has emerged that the heavily mortgaged Topshop flagship is up for sale.
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Activity around the break-up of the Arcadia fashion retail empire is continuing and while the sale of Evans is the only firm development so far, it has emerged that the heavily mortgaged Topshop flagship is up for sale.
Plus-size brand Evans is the first of Arcadia’s portfolio of labels to be sold with Australia’s City Chic Collective paying just £23 million for it.
Fast-growing retail giant Next is believed to be talking to a major US investment firm about a joint bid for failed group Arcadia and would want to keep a big chunk of its stores open.
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Much of the attention around the bidding for Arcadia's brands has been focused on big names such as Boohoo, Frasers, and Authentic Brands too. But reports suggest as many as 40 parties have registered their interest.
Frasers Group was reportedly racing to try to do a deal on Debenhams at the weekend, but reports also suggested that US-based Barneys owner Authentic Brands has both Debenhams and Arcadia in its sights.
Arcadia’s brands were estimated to have a total value of £800 million back in January but that has more-than-halved today as its administrators seek buyers for the various assets.
Arcadia is now operating in administration with speculation that Boohoo, Frasers, Next and M&S would be interested in buying parts of it. There are also fears over the knock-on effect on its suppliers.
Frasers Group has confirmed that it would be interested in buying some or all of Arcadia's brands if the struggling business enters administration as expected.
Giant fashion group Arcadia is believed to be on the verge of the worst UK corporate collapse of the Covid crisis, with the firm expected to go into administration as early as Monday. This would put 13,000 jobs at risk.