Topshop’s 80% off sale before website closes this week after ASOS takeover

TOPSHOP and Topman are running 80% off sales before their websites close this week.

It comes as ASOS confirmed it has bought both brands, as well as Miss Selfridge and HIIT, from Sir Philip Green’s Arcadia Group in a deal worth £295million.

Arcadia brands including Topshop and Topman have been purchased by ASOS

But the takeover doesn’t include stores, meaning 70 shops are expected to shut forever, putting 2,500 retail jobs at risk.

The deal also means Topshop, Topman and Miss Selfridge websites will redirect to the ASOS website once the takeover is complete.

ASOS told The Sun this will happen from Thursday, February 4, or Friday, February 5, with ASOS set to be the “permanent home” for these brands.

For now, all three websites remain open for orders and are each running up to 80% off sales.

Retailers hit by Covid

THE pandemic has pushed struggling retailers over the edge. Here are some other high-profile retail names hit by the virus outbreak:

Aldo shoe shop went into administration in May resulting in five UK store closures and it’s searching for a buyer for the remaining business, though franchised stores are not part of the process and concessions remain trading.

Benson Beds fell into administration in June with Harveys Furniture and was quickly bought back by its owners in a prearranged deal.

Brighthouse fell into administration at the end of March.

Cath Kidston went into administration in April and its online, franchise and wholesale arms were bought back by its owners resulting in the closure of 60 stores and 908 redundancies.

Debenhams is set to close all of its 124 shops permanently and disappear from the high street after rescue talks to save the chain failed in December.

Harveys Furniture, the UK’s second-largest furniture retailer, fell into administration in June and continues to trade and honour existing orders while it plans to close 20 stores and make 240 staff redundant.

Laura Ashley said in March it would permanently shut 70 stores and cut hundreds of jobs after appointing administrators.

LK Bennet brought in administrators last year and is proposing to close stores and reduce rents to save the business.

Oasis and Warehouse The British fashion brands fell into administration in mid-April after failing to find buyers, and online fashion group Boohoo said in June it was buying the brands but closing all stores.

Edinburgh Woollen Mill, Peacocks and Jaeger owners fell into administration in November, putting 4,716 jobs at risk.

Monsoon Accessorize went into administration in June and was then bought out of it by its founder. The deal meant 35 stores shut permanently and 545 staff were made redundant – but it also saved 155 stores and more than 2,500 jobs across the UK and Ireland.

The sales were running before the ASOS announcement was made today.

Topshop and Topman are offering up to 80% off, while Miss Selfridge is advertising up to 50% off but we found deals that were 80% off.

If you’ve got a gift card, you should note that administrator Deloitte confirmed in December that it would only accept 50% of the value of vouchers.

We’re checking if this is still the case, and if customers can use their vouchers on the ASOS website, and we’ll update this article when we know more.

The physical shops for each brand remain closed due to lockdown restrictions, so you’ll only find these deals online.

It’s unclear whether Topshop, Topman and Miss Selfridge shops will reopen once lockdown restrictions are lifted for customers to shop the remaining stock in person.

The ASOS deal comes after Sir Philip Green’s retail empire collapsed into administration on November 30, putting 13,000 jobs at risk, following “severely impacted” sales.

Sir Philip’s stores have also been hit by competition from online retailers such as ASOS and Boohoo.

In an announcement last month, Arcadia Group also confirmed it would shut another 31 stores, including 21 of the group’s Outfit shops.

Topshop’s flagship Oxford Street store is reportedly being sold off too.

The latest troubles for Arcadia come after the retail empire was saved from the brink of collapse in 2019 by Sir Philip’s wife and registered Arcadia owner Lady Tina Green after she agreed to bail him out.

The move saw Arcadia shut 48 stores and axe 1,000 jobs.