So, Can You Still Buy From Topshop? As Asos Buys Topshop, Here’s What You Need To Know

Today it was announced that Asos has bought Topshop, Topman and Miss Selfridge from the Arcadia retail group in a deal worth £295m. With Arcadia going into administration late last year, the online retailer bought the stock and brands however has chose not to take on the stores - meaning more than 2,500 jobs are now at risk, according to reports.

When it was first announced that Arcadia was going into administration, the big question on every fans mind was: what the hell happens to Topshop now?

In fact, Google was overrun by questions about the brand, ‘Can I still buy from Topshop?’ the most popular Google search. Now, with Asos buying Topshop, fans are wondering the same thing. 'Who bought Topshop?', 'Are all Topshop stores closing?' and 'Is Topshop closing down?' are all on the top of search lists.

Well, luckily for you we’re here to answer all those questions because if there’s one thing we’re good at, it’s not letting go of the obsessions of our teen years…

Is Topshop closing down?

Well, with the Asos purchase, Topshop is clearly not closing down but rather being placed in new hands. Asos is paying £265m for the Arcadia brands including Topshop, Topman and Miss Selfridge and a further £30m for the stock.

Are all Topshop stores closing?

However, when it comes to the stores, Asos chose not to take them on. Reports state that all Topshop stores will subsequently close, with administrators for Arcadia stating that only 300 people currently employed by the brands in design, buying and retail partnerships would transfer to Asos. That means more than 2,500 jobs are now at risk, according to reports - with no mention yet from Asos as to what will happen to the people who worked in the stores.

Can I still buy or order from Topshop?

Right now, it's still possible to buy from all Arcadia websites including Topshop. The Asos deal will not be completed until the 4th February, with Arcadia still in control of day-to-day runnings until then. Asos took on both the brand name and £30m worth of stock from Arcadia and as of yet has made no mention of closing down the individual websites for Topshop, Topman and Miss Selfridge. Whether they eventually move the stock over to their own website remains to be soon.

Of course, the physical stores are all closed currently because of lockdown anyway, but this deal does mean they will not reopen since lockdown will still be in place after the Asos deal completes this week.

Going into administration means that external administrators come into a business to see how they can salvage funds to pay off the company’s debts. For Arcadia, that’s financial consultancy agency Deloitte.

Who bought Topshop?

Asos is among the top five online retail stores selling clothes and shoes in the UK, with over 850 brands currently available on their website. Buying Topshop was always within the realm of possibility for a brand like Asos, with chief executive Nick Beighton telling the press: 'The acquisition of these iconic British brands is a hugely exciting moment for Asos and our customers and will help accelerate our multi-brand platform strategy.

'We have been central to driving their recent growth online and, under our ownership, we will develop them further, using our design, marketing, technology and logistics expertise, and working closely with key strategic retail partners in the UK and around the world.'

Hoping to make Asos, 'the number one destination for fashion-loving 20-somethings throughout the world', Beighton told journalists the the deal 'makes perfect sense for us on every level.'

Previously, it was thought administrator Deloitte would have a tough job on its hands. Administrators are brought into to give a business in trouble breathing space from creditors - such as landlords for its shops or clothing suppliers - while a buyer is sought for all or parts of the company.

This process can take up to a year, with Acardia executives still able to handle day-to-day control over the business. However, this deal has been done swiftly, with only two months between the announcement of Topshop closing and Asos buying Topshop.

Can I still return stuff to Topshop?

In December, Arcadia Group stated that while they continued to trade as normal, returns are still allowed as normal. Since this deal with not be complete until the 4th February, Arcadia will still be in control of day to day runnings until then.

According to Money Saving Expert, customers are advised to return items as soon as possible as historically, when companies go into administration there can be issues with how returns and refunds are processed. While Arcadia has promised to honour returns as normal, they’re essentially advising caution in case anything changes as the situation develops.

Can I still use Topshop vouchers?

All Arcadia Group's brands – Burton, Dorothy Perkins, Evans, Miss Selfridge, Outfit, Topman, Topshop and Wallis – have pledged to continue accepting offer gift cards for now as trading continues as normal.

That being said, when a company goes into administration they are within their rights to stop accepting gift cards so experts advise spending them as soon as you can.

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