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Report: British Retailer Next, US Hedge Fund Tipped to Lead Topshop Bid

Bidding for the high-street retailer, expected to fetch more than $270 million, ends tomorrow, according to a report by The Sunday Times.

Topshop Autumn/Winter 2020 campaign. Courtesy.

Bloomberg

17 January 2021

Clothing chain Next Plc, which is partnering with US hedge fund Davidson Kempner, is seen as the frontrunner to buy Topshop, the Sunday Times reported.

Bidding for the high-street retailer, expected to fetch more than £200 million ($272 million), ends tomorrow, according to the report that didn’t cite the sources of its information.

Other bidders include Authentic Brands Group LLC, which teamed up with JD Sports Fashion Plc, Mike Ashley’s Frasers Group Plc and online retailer Boohoo Group Plc, the paper reported.

Topshop owner Arcadia Group Ltd. filed for insolvency in November and appointed Deloitte as administrators of the proceedings.

In late December, the administrators agreed to sell Arcadia-owned Evans brand and Evans eCommerce to City Chic Collective for about £23 million.

By Jacqueline Poh

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