More retail jobs at risk in Northampton as Grosvenor Centre store gets set to shut for good

More retail jobs in Northampton town centre look set to disappear after online fashion chain ASOS bought Topshop and Topman from Sir Philip Green's Arcadia Group.

The £295m deal announced on Monday covers the brands and leftover stock but not the physical stores, putting around 2,500 roles at risk nationwide.

It is now expected that 70 UK shops, including the Topshop and Topshop sites in Northampton's Grosvenor Centre, will close permanently.

Northampton's Miss Selfridge branch is within Debenhams — which is already condemned to close permanently after the store's name was sold to Boohoo last month.

The Topshop and Topman buyout came after Sir Philip Green's retail empire collapsed in November.

Asos chief executive Nick Beighton said: "The acquisition of these iconic British brands is a hugely exciting moment for Asos and our customers and will help accelerate our multi-brand platform strategy.

"We have been central to driving their recent growth online and, under our ownership, we will develop them further, using our design, marketing, technology and logistics expertise, and working closely with key strategic retail partners in the UK and around the world."

Topshop was launched in 1973 by the Burton Group and became part of the Arcadia in 1997.

Its closure will leave more space in the Grosvenor Centre where Accessorize shut last year and Sainsbury is due to move out in early 2021. And former fashion giant Debenhams' Drapery store is also destined to close after a deal to sell the brand and online business — but not shops — was sealed last month.

The Chron's annual High Street Health Check last month estimated that as many as 26 retail businesses shut down in Northampton town centre during 2020.