// Topshop flagship might still have a future of Asos’ exclusive talks to takeover Arcadia succeeds
// However, the rest of Arcadia’s store estate are not being considered
Asos is reportedly interested in saving the Topshop flagship store in London if its exclusive talks to buy Arcadia Group brands out of administration succeeds.
According to Retail Week, Asos is considering whether the famous flagship on 214 Oxford Street could continue to be part of the business and is seeking to have a discussion with the building’s owners.
However, it’s thought that even if Asos goes ahead to buy Arcadia out of administration and retains the Topshop flagship, the rest of Arcadia’s store estate would probably not be saved.
- Asos confirms it is in exclusive talks to buy Arcadia Group
- Arcadia administration update: 714 job cuts & 31 store closures
- Is there still a place for Topshop on the UK’s high streets?
The Topshop flagship is not part of the Arcadia assets being overseen by administrator Deloitte.
It is controlled by a subsidiary, Redcastle Ltd, to which KPMG is the administrator and real estate agents Eastdil and Savills were recently appointed oversee the sale of the site.
Arcadia’s pension fund is reportedly entitled to part of the proceeds from a sale of the flagship.
The news comes after Asos confirmed yesterday that it was exclusive talks with administrators to buy Sir Philip Green’s retail empire.
The online retailer said the ongoing discussions were about snapping up Arcadia’s brands including Topshop, Topman, Miss Selfridge and HIIT, sold via Burtons.
Other retailers including Boohoo, Mike Ashley’s Frasers Group, and JD Sports in partnership with US retail giant Authentic Brands, and Asda billionaire owners the Issa brothers were also said to have been considering acquiring some or all of Arcadia’s stores.
Next had also expressed interest but walked away from talks just before the weekend.