Dundee’s Overgate Shopping Centre has responded to the news one of its shops will close.
Online retailer Asos announced today it would acquire the Topshop brand.
The £265 million deal is for the brands and stock – but not the stores.
The deal comes after Topshop’s owner Arcadia went into administration last year.
It is the second tenant blow for Overgate Shopping Centre in as many weeks.
Last Monday Boohoo acquired Debenhams’ brand but not its shops.
Closures leave ‘significant void’
Tom Williams, fund manager of Overgate owner Legal & General Investment Management, said: “The loss of Topshop and Topman from the high street is a great shame.
“It will leave a significant void on high streets across the country.
“At this point in time Overgate‘s thoughts are with those who have lost their jobs.
“The coronavirus pandemic, the associated on-going lockdowns and longer term shift in retail patterns to online have impacted traditional retail in an unprecedented way.”
Talks for new tenants
Mr Williams described the loss of Debenhams as a “significant blow to retail in Dundee”.
He said the retail destination was in talks with other prospective tenants about taking on the multi-storey space.
Last year fashion retailer Oasis closed its premises at the Overgate.
Mr Williams added: “The Overgate remains a strong retail destination in the heart of a vibrant city.
“But like retailers we must adapt to meet changing consumer demands.”
