British retailer Arcadia Group has sent a team of executives to Australia to nut out a deal to save the Topshop and Topman business, which collapsed into administration last week, putting stores and jobs at risk.
Administrators Ryan Eagle, James Stewart and Jim Sarantinos of Ferrier Hodgson have been in telephone talks with Topshop founder Sir Philip Green in Britain and liaising with Arcadia staff sent to Sydney after franchisee, Hilton Seskin’s Austradia, pulled the plug following months of negotiations over the future of the business.
Mr Eagle said the administrators were still confident of reaching agreement on a rescue deal with Arcadia, which is likely to take back control of the business from Austradia and possibly inje…
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