ASOS-Topshop buyout | What does it mean for staff?

ASOS has confirmed a deal to buy Topshop as well as Topman and Miss Selfridge from Sir Philip Green’s Arcadia Group, multiple outlets report.

This deal, according to those close to the purchase, is expected to close 70 shops permanently, with 2,500 retail staff at risk of redundancy.

Some publications are also stating that the online retailer ASOS is paying £330million for the brands and leftover stock and has agreed to take on 300 people within the Arcadia Group business, including buyers and designers but some jobs will be at a risk as a result - although this has been the case since Arcadia went into administration last year.

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