JD Sports in talks with Authentic Brands over potential Topshop bid
JD Sports is reportedly in talks with Authentic Brands, the US owner of Barneys department store, about a potential bid for Topshop following the collapse of Sir Philip Green’s retail empire Arcadia.
The firms are in early-stage discussions about a partnership, which would see JD Sports running the operations of an Authentic Brands-owned Topshop, Sky News reported.
Next is also expected to be among the bidders for Topshop, with final offers due in the coming days.
JD Sports has not made a standalone offer for any of Arcadia’s brands, which also include Dorothy Perkins and Burton, but chief executive Peter Cowgill reportedly has a solid working relationship with Authentic Brands.
The negotiations between Authentic Brands, which also owns Forever 21, and JD Sports are “far from concrete”, Sky News said, citing sources close to the talks.
Next confirmed last week that it is part of a consortium bidding for Arcadia brands, but said it was not seeking majority ownership of Sir Philip Green’s former empire.
It was reported last month that the high street retailer was holding detailed discussions with Davidson Kempner about a combined offer for Arcadia.
The companies are “likely but not certain” to launch a bid for the retail empire, Sky News reported in December, citing sources.
Davidson Kempner would reportedly provide most of the funding for the takeover and would own the majority of the Arcadia business if a deal is completed.