// Several Topshop and Topman directors set to leave business after Asos deal
// Asos bought Topshop, Topman, Miss Selfridge and athleisure brand HIIT for £330m earlier this month
// 2500 jobs are at risk as the deal excluded the Topshop, Topman and Miss Selfridge store network
Topshop and Topman have reportedly seen several directors exiting the business after not being transferred over to new owner Asos.
Topman managing director Mitch Hughes, Topshop design director Lizzie Dawson, and Topshop fashion director Gillian Ridley-Whittle will leave the business in March.
Topshop and Topman’s chief operating officer John Richens is also leaving the business, Drapers reported.
READ MORE:
- Asos relaunches Topshop online after £295m rescue
- Arcadia collapse leaves it with £510m pension deficit
Asos snapped up Arcadia fascias Topshop, Topman, Miss Selfridge and athleisure brand HIIT for £330 million earlier this month, while Boohoo bought Dorothy Perkins, Wallis and Burton for £25.2 million.
Around 300 Arcadia Group employees across design, buying and retail partnerships will transfer to Asos.
However, 2500 retail staff are at risk of redundancy as the deal excluded the Topshop, Topman and Miss Selfridge store network, which comprises around 70 leasehold sites.
Sir Philip Green’s Arcadia Group had a pension deficit of £510 million at the time of its collapse in November – which is about £150 million more than expected.
Arcadia Group fell into administration last year, putting up to 12,000 jobs at risk at the time.
In total, Arcadia owed creditors £800 million when it called in administrators from Deloitte.
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