UK online fashion retailer buys Topshop, three other brands

LONDON (AP) — Online fashion seller Asos has bought Topshop, which once boasted designs by Kate Moss and Beyonce, along with three other brands for 265 million pounds ($363 million) as rivals scoop up bargains after the collapse of Britain’s Arcadia retail group. The deal, announced Monday, puts thousands of jobs at risk because Asos acquired the Topshop, Topman, Miss Selfridge’s and HIIT brands but none of their stores. Asos said it plans to keep only about 300 of the brands’ employees. Asos said it also planned an additional cost to build stock.