Topman is a UK-based multinational men's fashion retail brand founded by Burton Group (later renamed

Arcadia Group Arcadia Group Ltd (formerly Arcadia Group plc and, until 1998, Burton Group plc) was a British multinational retailing company headquartered in London, England. It was best known for being the previous parent company of British Home Stores (B ...

) in 1978. Along with its women's clothing counterpart

Topshop TOPSHOP (originally Top Shop) is a British fashion brand for women's clothing, shoes and accessories. It was part of the Arcadia Group, controlled by Sir Philip Green, but went into administration in late 2020 before being purchased by ASOS on ...

and the rest of

, Topman went into

administration Administration may refer to: Management of organizations * Management, the act of directing people towards accomplishing a goal ** Administrative Assistant, traditionally known as a Secretary, or also known as an administrative officer, administ ...

in late 2020. All high street stores subsequently closed and the brand was purchased by

ASOS ASOS or Asos may refer to: * Asos, a village in Greece * ASOS (retailer), a UK online fashion store * Association Sportive Oussou Saka, a Beninese football team * Automated Surface Observing System, a type of weather station * Air Support Oper ...

on 1 February 2021, relaunching as an online-only retailer.

Arcadia Group financial problems

In May 2019, the BBC and ''

The Wall Street Journal ''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published ...

'' both reported that, after its parent company Arcadia Group filed for bankruptcy, Topshop would close all 11 of its U.S. stores, including Topman. Apparel would be distributed digitally and through other wholesale partners, such as Nordstrom.

Administration

In the UK, Arcadia Group went into

at 8pm GMT on 30 November 2020. On 25 January 2021,

said it was in "exclusive" talks to buy Arcadia's Topshop, Topman, Miss Selfridge and HIIT brands out of administration, though it only wanted the brands, not the shops. A consortium including

Next Next may refer to: Arts and entertainment Film * ''Next'' (1990 film), an animated short about William Shakespeare * ''Next'' (2007 film), a sci-fi film starring Nicolas Cage * '' Next: A Primer on Urban Painting'', a 2005 documentary film Lit ...

had earlier dropped a bid to buy Topshop and Topman; interest in Arcadia operations had also been expressed by Mike Ashley's

Frasers Group Frasers Group plc (formerly known as Sports Direct International plc) is a British retail, sport and intellectual property group, named after its ownership of the department store chain House of Fraser. The company is best known for trading ...

, a consortium including

JD Sports JD Sports Fashion plc, more commonly known as JD Sports or JD, is a British sports-fashion retail company based in Bury, Greater Manchester, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. Pentlan ...

, and online retailer Boohoo. On 1 February 2021, ASOS announced it had acquired the four Arcadia brands out of administration for £265 million, paying an additional £65 million for current and pre-ordered stock. ASOS will keep 300 employees on as part of the deal but will not keep any of the brands' 70 stores, putting 2,500 jobs at risk. They plan to relaunch in May 2021.

Products

Topman was nominated for the 'Menswear Design of the Year' award by the British Fashion Council, winner of 'Best Fashion Retailer' at the '' Maxim'' Style Awards for 2005 and winner of 'Best High Street Retailer' at the 2007 '' FHM'' Fashion and Grooming awards. In 2008, Topman collaborated with new label The Look Presents, the creation of rock-fashion author Paul Gorman and Soho boutique owner, Max Karie, to launch 'the Look Presents'. In 2011, Topman worked closely with

Teenage Cancer Trust Teenage Cancer Trust is a cancer care and support charity in the UK that exists to improve the cancer experience of young people aged 13–24. Founded in 1990, the charity's key service is providing specialist teenage units in NHS hospitals. ...

. The company worked in collaboration with children from the charity to produce a range of sunglasses designed by them whilst supporting the 'Rock your Shades' campaign in May 2011.

References

{{Reflist

External links

Official website
2021 disestablishments in the United Kingdom 2021 disestablishments in England 2021 mergers and acquisitions Clothing retailers of the United Kingdom Retail companies disestablished in 2021 Retail companies established in 1978 Companies that filed for Chapter 11 bankruptcy in 2020