British fashion retailer Next is in advanced talks with the recently collapsed Arcadia Group with regard to a takeover deal.
If reports are to be believed, Next, along with the American investment firm Davidson Kempner, will be bidding jointly to acquire the Group.
Arcadia Group, which owns Topman and Topshop, had collapsed last month thereby putting 13,000 jobs at risk. Only last week, Authentic Brands had shown interest in acquiring the Group.
Also Read: Authentic Brands eyes Debenhams and Arcadia
Last Friday (18 December), both Next and Davidson Kempner had said they were likely but not certain to bid together to takeover Arcadia.
Reportedly, Davidson Kempner will be providing majority of the fund to ensure that the takeover of the Group is complete.
That would also mean the American investment firm will own the majority of the business if the deal works out.
Next hasn’t officially commented on the same.
Meanwhile, several retail groups are showing interest in Arcadia Group, which also include the likes of Boohoo and Frasers Group.
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