There's a new frontrunner in the race to buy Topshop, Topman and Miss Selfridge with Asos being suggested as the lead contender on Saturday evening, which could mean the chances of saving any stores are slim.
The Milan Fashion Week ended on a note both optimistic and a tad zany, the collections by Dima Leu, Magliano, A-Cold-Wall*, JieDa and Les Hommes swinging between chic minimalism and cheerful creativity.
The company seen as the frontrunner to win the Topshop auction surprised observers late on Thursday as it emerged Next had pulled out of bidding for the most valuable name in the Arcadia basket of brands.
Milan Fashion Week Men's runs from 15 to 19 January, with an exclusively online and severely reduced calendar. Deprived of the majority of its stars, the event has bet on young talent and is introducing 10 new labels.
Unilever expects global consumption patterns to be suppressed in the first half of this year, even as business returns to normal in East Asia and markets in Africa and Latin America show resiliency, its CEO announced.