US groups plan swoop on Arcadia and Debenhams
Top Shop could get a US owner (pic: Terry Murden)
A US fashion giant is planning a double swoop on department store chain Debenhams and Topshop-owner Arcadia Group.
Authentic Brands, owner of a number of fashion businesses, including New York department store brand Barneys and Juicy Couture – is understood to be among the interested parties.
The company is in talks this weekend with the administrators of both stricken companies, according to the Telegraph.
MailOnline reports that rival contenders include private equity titans Fortress, Elliott Management, Apollo and OpCapita, while The Sunday Times says Primark owner AB Foods may enter the race for Arcadia, joining rivals Boohoo, Next, M&S and River Island.
Jenners owner, Frasers Group, said on Monday it was in negotiations to buy Debenhams from administrators.
It is also interested in the sale of Philip Green’s collapsed Arcadia Group.
Frasers, formerly Sports Direct, said that it hoped a deal could be agreed and jobs at Debenhams saved after the COVID-19 pandemic sunk its business, but cautioned that the transaction was complicated and talks needed to take place quickly.
Administrators for Debenhams expect to close all its shops after 242 years in business and putting 12,000 jobs at risk.
Green’s Arcadia fashion group collapsed into administration late in November putting more than 13,000 jobs at risk.