Fashion giant Next has been tipped as the ‘frontrunner’ in the race to buy Sir Philip Green’s Topshop empire, ahead of today’s reported deadline for bids.
Green’s Arcadia collapsed in November after the pandemic hammered sales.
It could fetch more than £200m, with administrators from Deloitte appointed to oversee the sale.
‘Frontrunner’: Next and its consortium partner Davidson Kempner were leading the race to buy the group, according to reports
Yesterday Next, led by Lord Simon Wolfson, and its consortium partner Davidson Kempner were leading the race to buy the group, according to the Sunday Times.
Next is the minority partner and Wolfson has said it is not interested in retaining all of Arcadia’s brands. His main interest is thought to be in Topshop – the crown jewel of Green’s assets.
Under Wolfson, Next recently bought lingerie brand Victoria’s Secret after it collapsed last year.
Firms thought to be among the other bidders for Arcadia are Mike Ashley’s Frasers Group, JD Sports, Boohoo and Juicy Couture owner Authentic Brands.
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