// Donald Trump’s tie-maker G-III Apparel joins line-up to purchase Arcadia’s assets

// The New York-based retailer is led by chairman Morris Goldfarb

// Sir Philip Green’s Arcadia collapsed into administration back in November 2020

Donald Trump’s tie-maker G-III Apparel has reportedly become the latest bidder to buy assets such as Topshop and Dorothy Perkins from Sir Philip Green’s Arcadia Group.

G-III Apparel, which was involved in the Donald J Trump Signature Collection of silk ties, has emerged as a bidder in the auction of Arcadia, The Sunday Telegraph reported.

The New York-based retailer, led by chairman Morris Goldfarb, has joined fellow US retailer Authentic Brands as well as Boohoo and Next in the line-up to purchase Arcadia’s assets.

READ MORE:

• Arcadia hires agents to oversee sale of flagship Topshop store
• Arcadia brand Evans sold to Australia’s City Chic Collective for £23m

Green’s Arcadia collapsed into administration back in November 2020, which placed over 12,000 jobs at risk, with administrators at Deloitte now engaged in a search for buyers of its assets.

Deloitte has already struck a deal to sell the womenswear brand Evans to City Chic, an Australian fashion retailer.

Topshop is recognised as Arcadia’s flagship brand, and is expected to fetch more than £200 million from an auction that could conclude as soon as this month.

Last December, fashion retailer Next and Davidson Kempner Capital Management were revealed to be plotting a joint bid to gain control of Arcadia.

Between 30 and 40 potential buyers are believed to have initially shown interest. Deloitte is believed to be working towards a deadline at the end of February.

It remains unclear as to which parties are interested in which parts of the Arcadia empire.

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