The billionaire brothers buying Asda have made a surprise bid for Topshop. Petrol forecourt tycoons Mohsin and Zuber Issa are up against contenders including online fashion giant ASOS in the race to snap up the high street chain, part of Philip Green’s failed Arcadia empire.
It is believed that one option for them could be to operate the fashion brand in Asda stores alongside the supermarket’s own George label.
The bid is understood to have come through private equity firm TDR Capital rather than the Issa brothers’ EG Group. The brothers from Blackburn, Lancs, emerged as late contenders for Topshop, joining other suitors including Boohoo, American group Authentic Brands, and Chinese fast-fashion giant Shein.
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