// 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.
- 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.