Miss Selfridge: ASOS Buys Arcadia Clothing Brands; 2,500 Jobs To Go

Online clothing retailer ASOS bought Monday brands including Topshop from collapsed Arcadia but has snubbed its stores, resulting in around 2,500 job losses. ASOS, which has enjoyed strong demand during the pandemic, also clinched the purchase the Topman, Miss Selfridge and HIIT brands in a transaction worth ?330 million ($452 million, 372 million euros), administrator Deloitte said in a statement. ASOS' website-based business model already sells Arcadia's key brands.