Jan 18, 2021
Next in race to buy Topshop owner Arcadia as bid deadline nears
The retailer, which has 550 UK stores, has weathered the pandemic well, with its Christmas sales matching last year's figures despite temporary store closures. According to reports, Authentic Brands, the US owner of the Barneys department store, and JD Sports have tabled a joint offer, while online retailer Boohoo is also said to be circling. Experts expect Arcadia to be broken up, with bidders taking on different parts of the business, and brands potentially hived off from their stores. In December, Australian collective City Chic said it would buy Arcadia's Evans brand, commerce and wholesale business for £23m but not its store network. Nearly 180,000 retail jobs were lost in the UK, up by almost a quarter on the previous year, as shops faced strict curbs and prolonged closures.
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