Famous online retailer, ASOS, is known to be the front-runner to purchase the Topshop brand from administrators.
They are leading with offering to buy the brand for more than £250 million. Arcadia Group, who owns Topshop, went into administration in November 2019, with 13,000 employed staff across 500 stores in the UK.
Other bidders hoping to purchase Topshop include Shein, Authentic Brands, JD Sports and the Issa brothers.
The Topshop brand is popular on ASOS amongst online consumers, thus, this purchase makes a lot of sense. Coupled with ASOS' incredible global reach, it will help the Topshop brand revitalise its financial position.