The franchisee of the fashion chain in Israel was asked to close its stores following the sale to the online retailer • The chain has eight physical stores in Israel
Topshop branch in London, UK, on Monday
Photography:
AP
The Topshop fashion chain will be forced to close its stores in Israel following a request from Asus, which acquired the British brand, from the Golf Group, which holds the company's franchise in Israel.
Earlier this week, it was reported that online retailer Asus was acquiring the operations of Topshop, Topman and Miss Selfridge for £ 265 million, after Topshop brand owner Arcadia ran into difficulties.
The Asus Instagram page read this week: "It's official - Topshop and Topman are now part of the Asus family."
Asus did not acquire Topshop's physical stores, and reportedly would absorb about 300 employees from the company.
In contrast, 2,500 branch employees will be laid off.
Topshop clothing sales were affected by the corona plague.
At the end of November, Arcadia filed for bankruptcy and protection against creditors, with the aim of trying to save 13,000 jobs and brands such as Topshop.
The company also owns the brand at Dorothy Perkins.
The company said at the time that the Deloitte firm believed in the proceeding caused by the corona impact.
The company operates 444 stores in the UK and 22 outside the kingdom.
The chain has eight physical stores and a website in Israel.
The stores are located in the Mamilla Mall in Jerusalem, in the Ofer HaGadol Mall in Petah Tikva, in the Sharonim Mall in Hod Hasharon, in the Ramat Aviv Mall, in Dizengoff Center, in Azrieli Tel Aviv, in the Ace Mall in Eilat and in the Ir Yamim Mall in Netanya.
It is not yet known what will be the fate of the site in Israel.
Last Tuesday, the Golf Group reported to the stock exchange that "Following media reports regarding the acquisition of the Arcadia Group's brands, including Topshop, by the online fashion retailer Asus, the company is honored to update that it has not yet been officially notified by the Arcadia Group and the company. "Examines the meanings of the transaction as they are. As of the date of the report, there is uncertainty regarding the implications of the transaction regarding future supplies from the brand."
When Asus International was asked this week what would happen to the stores in Israel and whether it would be possible to order Topshop items through the company's website following the purchase, Israel Today was told that "until we complete the deal, it will be early to discuss future stores and Topshop orders through the Asus website We are a brand that focuses first and foremost on digital. As part of the deal, we have the rights to sell these brands in all sales channels. We will work closely with key retail partners around the world to provide rapid growth. However, Israeli customers can shop for Topman products. "Miss Selfridge and HIIT through Asus".
A spokesman for the golf company declined to comment on the news.