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Deadline for bids for Arcadia fashion empire nears

<p>Arcadia is behind fashion chains such as Topshop</p> (PA)

Arcadia is behind fashion chains such as Topshop

(PA)

Would-be buyers of Topshop-owner Arcadia have the final opportunity to make an offer for Sir Philip Green’s fashion empire.

Employees and landlords are among those on tenterhooks waiting to hear about the future of the fashion group that collapsed in November, putting 13000 jobs at risk. At that point it had 444 leased stores in the UK.

So far Deloitte, administrators to Arcadia, have sold the Evans fashion brand.

The rest of the firm, which includes other high street names such as Dorothy Perkins and Wallis, is being auctioned. Today is understood to be the deadline for final bids.

Next is seen as the frontrunner to buy Topshop empire out of administration, according to the Sunday Times. It is bidding in partnership with US hedge fund Davidson Kempner.

Authentic Brands, the US owner of the Barneys department store, has held talks about a joint bid with JD Sports.

Next and JD Sports have both been expanding with acquisitions recently. Shore Capital analyst Greg Lawless today said: "What we are seeing is the stronger retailers scaling up. Those with a strong balance sheet are getting bigger as the fallout from Covid on the high street is started to be felt."

Other firms believed to be looking at all or parts of the firm include Boohoo and Mike Ashley's Frasers Group.

Melanie Leech, chief executive of the British Property Federation, said: “Property owners will be essential economic partners to the successful bidder and will want to work closely with them to ensure a positive future for viable stores.’

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