Primark owner reportedly joins race to buy Arcadia

Associated British Foods, the owner of fast-fashion retailer Primark, has reportedly joined the line-up of potential suitors for Arcadia Group. Arcadia, whose portfolio includes Topshop, Burton and Dorothy Perkins, called in administrators from Deloitte at the end of November after its trading was “severely impacted” by the pandemic. The move put some 13,000 jobs at risk. Associated British Foods is now thought to be among a list of other leading fashion retailers circling Arcadia Group empire, which is expected to be broken up, The Times reports. Boohoo, Frasers Group, Marks & Spencer, Next and River Island are also thought to be part of a list of potential suitors. According to The Times, there have been dozens of expressions of interest, though it’s uncertain whether these will turn into firm offers, which are due by the end of this week. Last week, there were reports that administrators of Arcadia were seeking bids of up to 200 million pounds for the Topshop brand as they look to seal a deal before Christmas. Also last week, Mike Ashley’s Frasers Group confirmed interest in snapping up brands from the collapsed retail empire. Photo credit: FashionUnited
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