Dec 18, 2020
Next weighs bid for Philip Green’s Topshop
Next is considering a bid for Philip Green's Topshop and Topman fashion chains that entered administration at the end of November, most likely in conjunction with a financing partner. Davidson was also recently linked to Peacocks, the discount UK fashion chain owned by Philip Day , which went into administration shortly before Arcadia, the group that owns Topshop. Its last acquisition was the Grattan catalogue business in 1986, which formed the basis of Next Directory. A subsidiary of Topshop also owns the freehold of a 1m square foot distribution centre - a potentially valuable asset - though the warehouse in Daventry serves as security for a £50m loan to the company from Tina Green, Sir Philip's wife and Arcadia's ultimate owner. Mike Ashley's Frasers Group has also declared an interest in buying any or all of the Arcadia brands, which include Burton, Wallis, Evans, Miss Selfridge and Dorothy Perkins as well as Topshop and Topman.
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