Sir Philip Green swoops in to rescue Topshop / Topman in Australia

Topshop Zalando

The Australian arm of Topshop and Topman will be relaunched after a successful rescue bid from Sir Philip Green’s Arcadia Group retail empire.

The fashion chain had been owned by Austradia, a separately-owned franchise business, which fell into administration in May.

Administrators Ferrier Hodgson said Topshop/Topman Australia Ltd – an entity directly controlled by Arcadia – has agreed terms to acquire and save stores in Brisbane, Bondi Junction and the Gowings building in Sydney, and Emporium in Melbourne.

However, concessions in Myer department stores that operated under Austradia will not return for the time being.

READ MORE:  Topshop shuts down half of its Australian stores

A Topshop/Topman spokesman said: “We are excited to operate directly in the Australian market and look forward to delivering unparalleled fashion to our customers.

“We are delighted to be offering 290 jobs within the Australian market at Topshop and Topman.”

Ryan Eagle, joint administrator from Ferrier Hodgson, added: “The administrators are delighted with the outcome of our discussions with Topshop/Topman as it finalises a successful restructure and rightsizing of the business in Australia.

“Throughout this process we have considered the optimal operational structure of the business, ensuring the brand will continue in the local market and to preserve a significant number of jobs within the business.”

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