Menu
11/10/2001
Arcadia chain store sale worth £35 million
The Arcadia Group has revealed it is to sell four of its leading chain stores including Warehouse and Principles, to Rubicon Retail Limited in a £35 million deal.
Completion of the deal is expected by next August, allowing time for the assignment of property leases.
Stuart Rose, Chief Executive of Arcadia, said: "The sale of these brands to Rubicon is an important step in achieving our key goal of rationalising the business portfolio and simplifying the business. It will enable Arcadia to concentrate on its six core brands, Dorothy Perkins, Topshop and Topman, Miss Selfridge, Burton, Evans and Wallis.
“The Rubicon businesses will benefit from focused management outside a group structure. The investment we have retained in Rubicon will allow us to share in the value that will be created in these businesses.
Arcadia, which is due to report its full-year results later this month, said the four brands being sold had incurred an operating loss of £600,000 on sales of £265 million for the year to August 26, 2000. (MB)
Completion of the deal is expected by next August, allowing time for the assignment of property leases.
Stuart Rose, Chief Executive of Arcadia, said: "The sale of these brands to Rubicon is an important step in achieving our key goal of rationalising the business portfolio and simplifying the business. It will enable Arcadia to concentrate on its six core brands, Dorothy Perkins, Topshop and Topman, Miss Selfridge, Burton, Evans and Wallis.
“The Rubicon businesses will benefit from focused management outside a group structure. The investment we have retained in Rubicon will allow us to share in the value that will be created in these businesses.
Arcadia, which is due to report its full-year results later this month, said the four brands being sold had incurred an operating loss of £600,000 on sales of £265 million for the year to August 26, 2000. (MB)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
06 November 2015
Council Hosts 'Small Business Saturday Bus Tour'
Belfast City Council hosted the 'Small Business Saturday Bus Tour' at City Hall on Thursday, 05 November, which is touring the UK to highlight small business success and encourage people to 'shop local'.
Council Hosts 'Small Business Saturday Bus Tour'
Belfast City Council hosted the 'Small Business Saturday Bus Tour' at City Hall on Thursday, 05 November, which is touring the UK to highlight small business success and encourage people to 'shop local'.
07 December 2017
NI Business Owner Visits 10 Downing Street
A business owner from Northern Ireland has just returned from her visit to 10 Downing Street as part of this year's Small Business Saturday Top 100.
NI Business Owner Visits 10 Downing Street
A business owner from Northern Ireland has just returned from her visit to 10 Downing Street as part of this year's Small Business Saturday Top 100.
14 February 2017
NI Chamber Of Commerce Announce Networking Event
NI Chamber of Commerce and Industry have announced a free networking event for local businesses. The networking series is designed to allow delegates to create new business relationships and opportunities with over 100 business delegates.
NI Chamber Of Commerce Announce Networking Event
NI Chamber of Commerce and Industry have announced a free networking event for local businesses. The networking series is designed to allow delegates to create new business relationships and opportunities with over 100 business delegates.
24 March 2016
Views Sought On Small Business Rate Relief Scheme
Views are being sought on alternatives to the Small Business Rate Relief Scheme as part of an evaluation being carried out by the Ulster University’s Economic Policy Centre (UUEPC).
Views Sought On Small Business Rate Relief Scheme
Views are being sought on alternatives to the Small Business Rate Relief Scheme as part of an evaluation being carried out by the Ulster University’s Economic Policy Centre (UUEPC).
03 December 2015
Local Firms To Host Events To Mark Small Business Saturday
Many local business associations are holding events this weekend to mark Small Business Saturday, supported by Belfast City Council.
Local Firms To Host Events To Mark Small Business Saturday
Many local business associations are holding events this weekend to mark Small Business Saturday, supported by Belfast City Council.
-
Northern Ireland WeatherToday:A mostly dry day, rather cloudy, but some sunny spells, best of these in the afternoon. A few showers spread south from late morning, turning wintry in the afternoon. Maximum temperature 5 °C.Tonight:A cold evening and night with a frost. It will be largely dry, but a few wintry showers towards the north coast overnight. Minimum temperature -3 °C.
