(qlmbusinessnews.com via news.sky.com– Mon, 21st Dec, 2020) London, Uk – –
Administrators Deloitte said that there had been “significant” interest in all Arcadia's brands, which also include Topshop.
Australian-listed City Chic is acquiring the business after Arcadia was driven into administration by the coronavirus crisis hammering Britain's high streets.
Evans, a plus-size clothes and footwear retailer – one of Arcadia's smaller brands, has five standalone stores with its goods also sold at other shops.
The deal includes its e-commerce and wholesale business, Deloitte said.
Evans, established in 1930, generated £23m in online sales and £3m wholesale revenues in the year to August.
City Chic, which also specialises in plus-size women's fashion, is listed on the Australian stock exchange and operates mainly online in Australia, New Zealand and the US.
The deal is expected to complete on Wednesday.
“There have been significant expressions of interest for all brands,” the administrators said, adding that a further update was expected in the new year.
Sky News revealed last week that retailer Next was in talks with American investment firm Davidson Kempner about a joint bid to gain control of Arcadia.
