Authentic Brands Could Buy Arcadia Group And Debenhams

Authentic Brands is said to be in talks with Debenhams and Arcadia Group administrators, with unnamed sources claiming that the retail company is mulling a bid for the Sir Philip Green retail empire and the retailer, Retail Gazette reported.

Events that unfold at Arcadia Group will have a secondary impact on Debenhams since the company is the largest operator of concessions in the retailer’s locations. The fashion labels of Arcadia Group comprised an estimated £75 million (approximately $100 million) of Debenhams’ yearly sales prior to COVID-19.

Arcadia Group went into administration at the end of November, putting more than 13,000 employment positions in jeopardy. Joint administrators at Gavin Maher, Daniel Butters and Deloitte were enlisted to supervise Arcadia Group.

Arcadia Group is the owner of Evans, Dorothy Perkins, Burton, Topshop and others. Authentic Brands, which is based in New York, has high-end retailers Juicy Couture and Barneys in its group.

The news comes as Frasers Group said it was in discussions to buy Debenhams from administrators, according to a past published report.

Frasers said it hoped a deal can be reached and jobs at Debenhams can be kept. But it cautioned that “there is no certainty that any transaction will take place, particularly if discussions cannot be concluded swiftly,” according to the published report.

Administrators for the department store retailer previously said that it would be wound down and that all stores would be closed after 242 years in operation.

In March, a report surfaced that Debenhams was seeking relief from landlords for five months of rent as it expects trouble from the ongoing pandemic.

The chain underwent two insolvency events last year, and it foresaw that the virus would adversely impact trading.

In October, news surfaced that coronavirus cases were beginning to jump in the U.S. and across the globe – bringing with them a new tide of limitations and closures in throughout Europe as leaders aim to contain the virus.