Topshop Australia placed in voluntary administration

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


Share this article



Latest Businesses for Sale

Builders Merchant
Manchester, UK Wide

The business for sale is a popular, independent builders’ yard/supplier specialising in a wide range of building products. Offers invited.

Asking Price: £299,500
Turnover: £570,000

LEASEHOLD


Joinery Business
East London, South East, UK

This is a fantastic opportunity to acquire a long running and well-established joinery business currently serving the London area. Offers invited.

Asking Price: £420,000
Turnover: £780,000

LEASEHOLD


Dust & Fume Extraction Specialist
Scotland, UK

Specialises in comprehensive dust and fume extraction solutions, providing tailor-made designs, installations and support services. Offers invited.

Asking Price: Offers Invited
Turnover: £534,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
26
 
Mar
 

Craft beer company goes under | ADMINISTRATION

With stores in London, Canterbury and Margate, craft beer me...

 
25
 
Mar
 

West Midlands transport company enters administration | ADMINISTRATION

The company behind the Ring and Ride services throughout the...

 
22
 
Mar
 

Scunthorpe nightclub up for sale | BUSINESS SALE

A former nightclub based in Scunthorpe has been put up for s...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
26
 
Jan
 

BHS considering takeover offers | BUSINESS SALE

Sir Philip Green is considering offers to takeover strugglin...

 
15
 
Nov
 

Sale of business not ruled out for BHS | BUSINESS NEWS

Sir Philip Green, owner of Arcadia Group and BHS, has stated...

 
14
 
Dec
 

House of Fraser sale on the cards | BUSINESS SALE

The owner of the House of Fraser department store group, Don...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources