- Huw Hughes
Arcadia’s administrator Deloitte has reportedly accelerated the sale of
the retail group’s fashion brands, giving potential suitors a deadline of
18 January to make final bids.
According to The Times, Deloitte has narrowed the frontrunners down to
just five, though they are understood to have been around thirty
expressions of interest.
Those potential buyers are thought to be led by Boohoo, Frasers Group,
Next, bidding jointly with American investment firm Davidson Kempner, and
online Chinese fast-fashion retailer Shein.
It is unknown whether Authentic Brands has made it to the second
Arcadia, whose portfolio includes Topshop, Burton and Dorothy Perkins,
called in administrators from Deloitte at the end of November after its
trading was “severely impacted” by the pandemic. The move put some 13,000
jobs at risk.
Last month, 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.
Photo credit: FashionUnited