Lucy Powell comments on ASOS completing purchase of Arcadia brands
Lucy Powell MP, Labour’s Shadow Minister for Business and Consumers, commenting on ASOS completing the purchase of Topshop, Topman, Miss Selfridge and HIIT brands from Arcadia, said:
“Losing these shops will be terrible for our country’s high streets, and this deal provides no comfort to the thousands of people whose jobs are at risk.
“Despite the wipe out of popular high street names we’re witnessing, this Government is still disadvantaging high street businesses against online-only companies.
“Companies are facing a cash crisis, and Ministers must end the sticking plaster approach to support and bring forward a comprehensive plan to see businesses through this crisis and beyond.”