Sir Philip Green’s office furniture up for sale as administrators flog Arcadia assets after collapse
Administrators have begun flogging Arcadia’s assets, including sewing machines and Sir Philip Green’s office furniture, following the collapse of his retail empire.
Deloitte has appointed Hilco Global to sell the former Topshop owner’s London headquarters in a dramatic fall from high street royalty to the auction house.
Arcadia collapsed into administration last year, putting 13,000 high street jobs at risk, in the biggest retail failure of the coronavirus pandemic so far.
Green’s office will be included in the sale, as well as that of former Arcadia chief executive Ian Grabiner.
The two-day online auction, which begins on Wednesday, will include IT, furniture, photographic equipment, and fabric cutting and sewing machinery tools.
A separate private treaty sale will be held for the contents of the executive suite – including the former chairman and chief executive’s office – a commercial kitchen and catering facilities. The offer deadline is on Friday at midday.
The HQ sale will be followed by further asset auctions, including Arcadia’s distribution centres and equipment at other locations.
Asos bought Arcadia’s flagship brand Topshop, as well as Miss Selfridge and HIIT, in February, taking them online-only.
The e-commerce giant paid £265m for the brands, £30m for the stock in hand and £35m for orders still in the pipeline.