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

LONDON (Reuters) – 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 pounds ($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.

($1 = 0.7294 pounds)

(Reporting by Aakriti Bhalla; Editing by Edmund Blair)