(Adds Arcadia's response)
Jan 23 (Reuters) - British online fashion retailer ASOS Plc
has emerged as a surprise front-runner to buy the
Topshop brand from the administrators of British tycoon Philip
Green's Arcadia Group, Sky News reported on Saturday.
ASOS is in the lead to buy the brand for more than 250
million pounds ($342.10 million), the report said. https://bit.ly/3990EGm
ASOS and Arcadia declined to comment.
Retailer Next Plc said on Thursday it had pulled out
of the bidding as it was unable to meet the price expectations
of the collapsed fashion chain.
ASOS is not holding any talks about buying Topshop stores,
Sky News said, citing unnamed insiders. But it was also keen to
acquire Arcadia's Miss Selfridge brand alongside Topshop and
Topman, Sky said.
ASOS is competing against rivals including Boohoo Group
, U.S. retailer Authentic Brands Group, which is working
with JD Sports Fashion Plc, and Chinese fashion group
Shein, the report added.
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.
($1 = 0.7308 pounds)
(Reporting by Rama Venkat in Bengaluru; Editing by Alex
Richardson and Paul Simao)