GREAT IKEA?
Ikea in talks to take over Topshop’s iconic Oxford Street store as part of new plan to open shops in city centres
Updated: 10 May 2021, 15:04
IKEA is in talks to take over Topshop’s old flagship Oxford Street store as part of its plan to open up shops in city centres, according to reports.
The Swedish retailer has been looking to open up smaller outlets along Britain’s high streets since 2018.
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The former Topshop store along Oxford Street has been left vacant for monthsCredit: Alamy Live News
It is now eyeing up the former Topshop store on Oxford Street, which went up for sale in January after parent company Arcadia fell into administration in December last year.
Ikea has previously looked at other buildings on Oxford Street, but is understood to have shown a serious interest in the Oxford Circus site, senior property sources told The Mail on Sunday.
Investors piled into Mike Ashley’s Frasers Group after it kicked off a surprise share buyback scheme.
The Sports Direct and House of Fraser owner will spend up to £60million purchasing its own stock between now and July despite warning less than a month ago that it would suffer a £200million hit from the pandemic. It will start the spree next Tuesday, buying a maximum 10m shares.
The retail conglomerate refused to explain beyond saying it was to ‘reduce the share capital of the company’. Businesses usually buy shares and hold them in reserve to reduce the number available to the public.
BBC News
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Northern Ireland s remaining Debenhams stores will shut for the final time later in May after the company confirmed closure dates.
The store in Ballymena, County Antrim, will be the next to shut up shop - it will cease to trade on 12 May.
On 15 May Debenhams shops will close in Belfast s Castlecourt shopping centre, Newry s Quays shopping centre and Rushmere shopping centre in Craigavon.
They are among the final 49 Debenhams set to shut across the UK this month.
The business can trace its roots back 242 years to when one of its founders opened a drapers store in London.