Sep 9, 2021

Ikea in talks to buy former Topshop flagship store

Ikea is currently in talks to buy Topshop's former flagship Oxford Street store, the BBC understands. Ikea's net income, on the other hand, rose in 2020 as people flocked to buy its furniture in between lockdowns. According to the Telegraph, proceeds from the sale of the Oxford Street store could be used to pay off Arcadia's creditors, as well as deficits in the company's pension fund. Ikea is known for having large out-of-town stores as well as smaller city centre stores, such as its first ever planning studio in Tottenham Court Road, central London. Following several coronavirus lockdowns Ikea said that shoppers' habits were changing and moving online.

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