Arcadia Group head office assets put up for auction
Mon, 22 Mar 2021 | BUSINESS SALE
Property from the head office of retail group Arcadia has been put up for sale, as the former empire's assets continue to be moved on following its collapse.
Assets in the auction, held by Hilco Valuation Services, will include furniture, IT and photographic equipment, fabric cuttings and sewing machinery that has been housed in former Arcadia Group head office Colegrave House's executive suite.
Commenting on the sale, Hilco Global managing director Kevin Smyth said: "The portfolio of Arcadia assets being offered is typically ‘best in class’ with the Executive Suite being an example of this comprising the highest quality for furniture of this type."
Mr Smyth added that this initial sale "will be followed by further sales of assets by Hilco in due course, which could include distribution centres and equipment at other locations".
According to the valuation firm, they expect the auction to draw interest from a number of parties including growing IT companies and other office-based firms.
There will also be a separate private treaty sale held for the contents of the main executive suite and the commercial level kitchen facilities.
Arcadia Group was the parent company of high street brands including Burton, British Home Stores, Dorothy Perkins, Debenhams and Miss Selfridge. The group, which also owned Topshop and Topman, collapsed in November 2020 with debts of £750 million after calling in administrators from Deloitte LLP.
Several former Arcadia brands have since been acquired. ASOS acquired the stock and brands of Topshop, Topman, Miss Selfridge and HIIT for £295 million in February 2021, while Boohoo acquired the Dorothy Perkins, Wallis and Burton brands for £25 million in the same month.
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