The number of fashion-focused shops on premier shopping thoroughfare Oxford Street looks like falling even further with news that IKEA is likely to take over the former Topshop flagship, in a key Oxford Circus position.
Jigsaw is the target of a potential £27 million takeover bid. The women’s fashion retailer, owned by parent company Robinson Webster, has received the indicative offer from little-known investor Henrik Madsen.
Taxpayers will take a major hit following the demise of the Arcadia Group, the UK fashion group that fell into administration last year. And just £30 million will be shared by heavily-out-of-pocket unsecured creditors.
ASOS has formed a North American joint venture with US-based multi-channel retailer Nordstrom, which will take a minority interest in the Topshop, Topman, Miss Selfridge and HIIT brands "to help drive their growth”.