British online fashion retailer Asos is on the verge of a deal to buy Topshop and Miss Selfridge from the administrators of British tycoon Philip Green’s Arcadia Group for almost £300 million ($411 million), Sky News reported.
Asos could announce a deal as early as Monday, Sky said.
Arcadia went into administration in November, putting more than 13,000 jobs at risk and becoming Britain’s biggest corporate casualty of the Covid-19 pandemic.
Asos and the administrators of Arcadia were not immediately available for comment.
By Aakriti Bhalla; editor: Edmund Blair.