Online fashion retailer, ASOS has just bought Topshop, Topman, Miss Selfridge and HIIT from Arcadia retail group.
Arcadia group fell into administration last year putting the future of its brands and 13,000 jobs at risk.
ASOS will be acquiring the stock and the brands, however, it will not be acquiring the stores ASOS will be paying £265m for the brands and a further £30m for the stock.
The rumours are true… @Topshop & @Topman are now part of the ASOS family 💛
— ASOS (@ASOS) February 1, 2021
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