A BUYER has been found for the Evans clothes brand – but not for its shops. Administrators for the Arcadia group say the stores, which include a branch at Bournemouth’s Castlepoint, will carry on trading “for the time being”. City Chic will pay £23 million for the 90-year old plus-size clothing brand, Deloitte said. The deal, which is expected to close on Wednesday, will see Evans carved out from Sir Philip Green’s retail empire. Arcadia, which also owns Topshop and Dorothy Perkins, went into administration at the end of November after months of worries surrounding it and other high street giants.
Australian chain to buy plus-sized clothing brand Evans from Arcadia
City Chic will pay £23m for the 90-year old brand
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Plus-Size Brand Evans Saved From Arcadia Collapse In GBP23 Million Deal
Mon, 21st Dec 2020 10:01
(Alliance News) - Administrators of Arcadia have struck a deal with an Australian company to buy its plus-size clothing brand Evans.
City Chic will pay GBP23 million for the 90-year old brand, Deloitte said on Monday. However, it will not buy its brick and mortar stores. The deal, which is expected to close on Wednesday, will see Evans carved out from Sir Philip Green s retail empire.
City Chic is a retailer that specialises in plus-size women s apparel, footwear and accessories. It is listed on the Australian Stock Exchange, and mainly operates online in Australia, New Zealand and the US. Its brands include Avenue, CCX, Hips & Curves, and Fox & Royal. It also has a network of 96 stores across Australia and New Zealand.
The ecommerce and wholesale arms of Arcadia’s plus size womenswear retailer were sold for £23m to Australian retailer City Chic Collective. The deal does not include Evans five stores and up to 100 concessions, which will continue to trade for the time being, but closures and redundancies are likely.
City Chic Collective, is listed on the Australian stock exchange and specialises in plus size womenswear brands. Its labels include Avenue, and footwear brand Cloudwalker, which are both available in the US via the Avenue website. It also owns Hips and Curves, which it acquired in 2019 and is currently stocked on Asos. City Chic is sold in New Zealand, Australian, America and across Europe on Zalando and Amazon. City Chic Collective has over 640 employees and had annual sales of $194.5m (AUD) (£108m), according it its 2020 annual report.
The Evans store in Norwich
- Credit: GoogleMaps
Women s retailer Evans has been saved from the collapse of its owner Arcadia.
City Chic will pay £23 million for the 90-year old brand, Deloitte said; however, it will not buy its brick and mortar stores.
The shops, including its site in Norwich s Red Lion Street, will “continue to trade for the time being”, administrators said.
What the exclusion of the stores from the deal means for jobs and closures moving forwards remains to be seen.
The deal, which is expected to close on Wednesday, will see Evans carved out from Sir Philip Green’s retail empire.