Topshop Sale Leaves 2,500 Staff At Risk

Another 70 Sir Greedy stores facing closure

- Graham Hiscott

Online fashion giant ASOS has bought Sir Philip Green’s Topshop brand in a deal that is set to put 2,500 shop workers out of a job.

The £300million buyout, which includes Topman, Miss Selfridge and sportswear brand HIIT, saves 300 office staff at Green’s collapsed Arcadia empire, but does not include the 70 stores.

It means up to 25,000 jobs across Arcadia and Debenhams have either gone already or are at risk.

Boohoo, another online retailer, bought the Debenhams brand and website for £55m, and is in talks with Arcadia’s administrators about Dorothy Perkins, Wallis and Burton.