Evans is the first Arcadia brand to be offloaded after the British group filed for bankruptcy in November.
The once-mighty Topshop has fallen on hard times, and could have a new owner soon. Here, WWD takes a look at the rise and fall of a British retail player.
Topshop’s troubled parent had been undergoing a major restructuring, but store closures resulting from two national lockdowns pushed the retail group over the edge.
Arcadia, which was already forced to shut stores and restructure, could file for administration in the U.K. as early as next week, according to reports.
Coppel will oversee the three companies which are owned by Sir Philip Green as they undergo a major restructuring.
Suppliers, landlords and pension trustees approved a plan by Philip Green’s Arcadia Group to slash costs and renegotiate leases.
Green is looking to do a deal with creditors that will likely see Topshop shut its 11 U.S. stand-alone stores and other units across the U.K. and Ireland.
The Topshop tycoon has been revealed to be the subject of an investigation by The Telegraph, which details sexual, racial and bullying allegations.
Sales and profits at Taveta Investments Ltd., parent of fashion retailers including Topshop and Topman, declined in the 12 months to August 2017, the company said.
To date, Jenner has only sold on her direct channels.