Administrators of Arcadia are reportedly seeking bids of up to 200 million pounds for the Topshop brand as they look to seal a deal before Christmas.
Initial bids are expected to be filed by the end of next week, with online fast-fashion giant Boohoo considered the most likely buyer for the brand, according to The Guardian. Boohoo’s approach is also reportedly being backed by Arcadia boss Sir Philip Green.
This comes a day after Mike Ashley’s Frasers Group confirmed interest in snapping up brands from Green’s collapsed retail empire.
Other companies thought to be interested include Next, Marks & Spencer and private equity group Alteri.
It is understood administrators have seen a significant amount of interest across the Arcadia brands, with several sources saying administrators were seeking as much as 200 million pounds for Topshop. However, one source told The Guardian: “It doesn’t mean they will get that”.
Photo credit: FashionUnited
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