Topshop to relaunch wholly owned stores in Australia

The fashion chain, owned by Sir Philip Green’s Arcadia Group, has agreed terms to save stores in Brisbane, Gowings and Bondi Junction in Sydney and Emporium in Melbourne.

Ferrier Hodgson, administrators of Austradia Pty Ltd, which traded as Topshop and Topman in Australia, said the stores had been acquired by Topshop/Topman Australia Ltd – an entity controlled by Arcadia.

It comes after reports in May that Green was working on a deal to save Austradia, which also operated Topshop/Topman concessions in Myer department stores.

A Topshop/Topman spokesman said: “We are excited to operate directly in the Australian market and look forward to delivering unparalleled fashion to our customers.

“We are delighted to be offering 290 jobs within the Australian market at Topshop and Topman.”

Ryan Eagle, joint administrator from Ferrier Hodgson, added: “The administrators are delighted with the outcome of our discussions with Topshop/Topman as it finalises a successful restructure and rightsizing of the business in Australia.

“Throughout this process we have considered the optimal operational structure of the business, ensuring the brand will continue in the local market and to preserve a significant number of jobs within the business”