|
Re: Changes on the High Street
Quote:
Quote from The Sun. Money: ASOS has bought Topshop, Topman and Miss Selfridge from Sir Philip Green's Arcadia Group in a deal that is expected to permanently close 70 shops.
It comes after Sir Philip Green's retail empire collapsed into administration in November following "severely impacted" sales.
ASOS is paying £295million for the brands plus leftover stock, with the takeover also including leisurewear range HIIT.
But the deal doesn't include the physical shops, which means 2,500 retail staff are at risk of redundancy.
ASOS has agreed to take on 300 people within the Arcadia Group business, including buyers and designers.
The websites for Topshop, Topman and Miss Selfridge will remain open until the deal is completed at the end of the week.
After this, each brand will move over to the ASOS website and customers trying to access these websites will be redirected to ASOS.
|
More brands move to exclusively on-line.
__________________
History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
|