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Asos Close To Deal To Buy Topshop, Miss Selfridge for $411 Million

Asos. Shutterstock.

British online fashion retailer Asos is on the verge of a deal to buy Topshop and Miss Selfridge from the administrators of British tycoon Philip Green’s Arcadia Group for almost £300 million ($411 million), Sky News reported.

Asos could announce a deal as early as Monday, Sky said.

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.

Asos and the administrators of Arcadia were not immediately available for comment.

By Aakriti Bhalla; editor: Edmund Blair.

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