UK fashion retailer ASOS nears deal for Topshop, Miss Selfridge at $411 million - Sky News

FILE PHOTO: Asos logo is seen in a smartphone in front of a displayed TopShop logo in this illustration taken January 25, 2021. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) - British online fashion retailer ASOS is on the verge of a deal to buy Topshop and Miss Selfridge from the administrators of British tycoon Philip Green’s Arcadia Group for almost 300 million pounds ($411 million), Sky News reported.

ASOS could announce a deal as early as Monday, Sky said.

Arcadia went into administration in November, putting more than 13,000 jobs at risk and becoming Britain’s biggest corporate casualty of the COVID-19 pandemic.

ASOS and the administrators of Arcadia both declined to comment.

Meanwhile, British online fashion retailer Boohoo said on Friday it has entered exclusive talks with the administrators of Philip Green’s collapsed Arcadia group over the purchase of the Dorothy Perkins, Wallis and Burton brands.

ASOS said on Monday it was in exclusive talks to buy the Topshop, Topman, Miss Selfridge and HIIT brands from the administrators of British tycoon Philip Green’s Arcadia Group.

($1 = 0.7294 pounds)

Reporting by Aakriti Bhalla; Additional Reporting by Sabahatjahan Contractor; Editing by Edmund Blair and Grant McCool