Wed, 31 May 2017 | ADMINISTRATION
Topshop Australia has gone into voluntary administration, putting a total of 760 jobs under review.
The UK-based retailer, launched in Australia in 2011, has nine stand-alone stores, 17 Myer concessions and an online business that generates annual sales of approximately $90m.
A restructuring firm has been appointed, and administrator James Stewart has said the company will be considering “its optimal operating structure” with all parts of the business to be reviewed, although it was unclear how long this process would take.
Topshop, owned by the British retail giant Arcadia, was one of the first international fast-fashion brands to launch into the Australian market, and was quickly followed by others including Zara and H&M. This influx of outside brands has been partly blamed for turbulence in the sector, with some claiming it pushed out a number of local brands who have since closed stores or suffered insolvency.
Arcadia has been under fire recently in the UK. In March, embattled boss Sir Philip Green, the head of the UK fashion group, agreed to invest up to £50m per year into the company pension fund.
Arcadia were the previous owner of BHS stores, which went into administration in April 2016 and was consequently involved in a high-profile UK parliamentary investigation.
Find a retail business in administration
Subscribe to Business Sale Report here
An established and newly discounted catering and retail butchers in Southend-On-Sea is now available, offering a unique opportunity for those looking to enter or expand in the food industry.
FREEHOLD
This Bristol-based law practice presents a compelling opportunity with a strong track record in criminal, children, and family law matters, showcasing a diverse portfolio of publicly funded and privately paid work.
This is a terrific opportunity to take over an established and high-revenue yielding law practice in central London, with a diverse portfolio emphasising matrimonial and residential conveyancing.
30
|
Jun
|
Specialist electronics manufacturer to be acquired in £20m deal | BUSINESS SALE
Landguard Nexus Limited, a specialist electrical and electro...
30
|
Jun
|
Modella successfully price-chips WH Smith deal by at least 23 per cent | BUSINESS SALE
Back in March 2025, private investment form Modella Capital ...
30
|
Jun
|
IFA consolidator secures £14.5m facility for buy-and-build strategy | BUSINESS NEWS
Futura Financial Services Group, a consolidator of UK indepe...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.