ASOS agrees Topshop deal but King Street store will remain closed

JERSEY’S Topshop store will not reopen its doors after online retail giant ASOS completed a £295 million deal to buy the brand – but not its shops.

Picture: PA (30138783)
Picture: PA (30138783)

The sale was agreed after Sir Philip Green’s Arcadia group – which previously owned the chain – fell into administration last year after trading was ‘severely impacted’ by the pandemic.

It is understood the Jersey store employed a total of nine people.

Commenting on the sale, which also included Miss Selfridge, administrators said that around 300 Topshop employees would be transferred to ASOS. However, the jobs of the company’s 2,500 retail staff are believed to be at risk, as it is understood that administrators Deloitte told workers this morning that ‘they would not be part of the acquisition’.

Meanwhile, two other Arcadia brands which have stores in St Helier – Burton and Dorothy Perkins – could also be snapped up by another online fashion business.

Boohoo.com has announced that it is in exclusive talks to buy the chains but, as with the ASOS deal, the sale does not include any physical outlets.

Earlier this month it was reported that Jaeger on Halkett Street was unlikely to reopen after the brand was bought by Marks and Spencer.

The outlet is situated alongside the former Austin Reed store which has been vacant for around six years. However, a planning application was recently submitted to turn the unit into a restaurant.

Work has also begun to convert the former USC store – previously BHS – into a Flannels and Sports Direct. USC has moved to the former Next shop in Queen Street while work takes place.

Yesterday the JEP asked the Arcadia group how many staff the Jersey Topshop store had employed but the company did not answer.

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