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
Long established community pharmacy. First time on the market in 30 years. Now occupying exemplary new purpose built accommodation. Standard hours. Offers invited.
LEASEHOLD
Works closely with clients to produce interior design solutions for educational institutions, which could be marketed to more sectors.Additionally offers an array of creative media, including videos,presentations, websites, branding and full direct m...
RELOCATABLE
Unopposed health centre pharmacy. Semi-rural location. In receipt of Pharmacy Access Scheme payments. Offers invited.
LEASEHOLD
|
24
|
|
Jan
|
Hawkin’s Bazaar enters administration | ADMINISTRATION
Norwich-based novelty toy retailer Hawkin’s Bazaar has...
|
23
|
|
Jan
|
MBO at Bristol-based media training firm | MBO/MBI
Mentor Media Training has been acquired by lead consultant D...
|
22
|
|
Jan
|
Chelmsford warehouse management firm bought by software provider | BUSINESS SALE
Chelmsford-based warehouse management solutions provider Min...
Sign up to receive our acquisition alert emails to get your FREE guide
|
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...
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