Administrators for Arcadia Group have agreed the sale of its plus-size clothing brand Evans to an Australian company.
City Chic Collective – a global omni-channel retailer – will pay £23m for the Evans brand and its eCommerce and wholesale business. The transaction, which is expected to complete on 23 December, does not include bricks and mortar stores.
Evans stores will continue to trade “for the time being,” Deloitte said.
Evans is the first agreed sale of Arcadia Group businesses after Philip Green’s retail giant collapsed into administration last month.
Deloitte confirmed that the process to secure new owners for the other Arcadia brands is ongoing. But, there have been “significant expressions of interest for all brands,” the firm revealed.
A further update is expected in the new year.
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