Last checked at 
* Mike Ashley's Frasers offered 50 mln stg loan
* Says Arcadia did not engage
* Arcadia close to administration - Sky News
(Adds Frasers latest statement)
LONDON, Nov 30 (Reuters) - Philip Green's struggling British
fashion group Arcadia has turned down rival Frasers Group's
offer of a "lifeline" loan of up to 50 million pounds
($67 million), sportswear retailer Frasers, controlled by Mike
Ashley, said on Monday.
Arcadia owns the Topshop, Topman, Dorothy Perkins, Wallis,
Miss Selfridge, Evans, Burton and Outfit brands, trading from
over 500 stores and employing over 13,000 people.
Its sales have been hammered by the COVID-19 pandemic and
Sky News reported on Friday that it could go into administration
as soon as Monday.
Arcadia said on Friday it was working on a number of
"contingency options" to secure the future of its brands. If the
group does enter administration, it will be the biggest British
retail casualty of the pandemic so far.
"Frasers Group were not given any reasons for the rejection
(of the loan) nor did Frasers Group have any engagement from
Arcadia before the loan was declined," Frasers said.
Arcadia declined to comment.
Earlier on Monday, Frasers said that, should Arcadia Group
enter into administration, it would be interested in
participating in any sale process.
Topshop, once the go-to destination for teenagers and
fashion lovers, is regarded by analysts as Arcadia's most
attractive brand.
Media reports have also identified retailers Marks & Spencer
, Next and Boohoo, as well as
private-equity players, as potential bidders for individual
brands.
($1 = 0.7496 pounds)
(Reporting by James Davey; Editing by Paul Sandle and Pravin
Char)
