// JD Sports reportedly in early talks with Authentic Brands regarding a bid for Topshop
// Authentic Brands wants JD Sports as operating partner if its bid for Topshop is successful
// Final offers for Arcadia are due to be finalised in the coming days
JD Sports is reportedly looking to join forces with US-based Authentic Brands to swoop in on Topshop and buy it out of administration from Sir Philip Green’s Arcadia Group.
According to Sky News, Authentic Brands – which owns Forever 21 and New York department store Barneys – is in early-stage discussions with the British retail company about becoming operating partner if its bid for Topshop is successful.
JD Sports itself has not make an offer for any of Green’s former assets across Arcadia Group, which fell into administration last October, but the firm reportedly has a good working relationship with Authentic Brands.
READ MORE:
- Is there still a place for Topshop on the UK’s high streets?
- JD Sports raises profit forecast but warns stores “likely” to stay closed until Easter
- JD Sports continues buying spree with Wellgosh takeover
Sources also told Sky News that the talks between JD Sports and Authentic Brands are “far from concrete”.
Final offers for Arcadia are due to be finalised in the coming days, with retail stalwarts including Next and Mike Ashley’s Frasers Group thought to be among the bidders.
Administrators from Deloitte are hoping to secure deals for Arcadia’s stable of retail chains in the coming weeks in order to save the businesses from winding down completely.
So far only one Arcadia fascia has been rescued, Evans, which was sold to Australian firm City Chic – although Evans’ stores were not part of the deal.
When Arcadia fell into administration, it placed hundreds of stores and up to 13,000 jobs at risk.
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