MORE major shops are set to disappear in Hampshire after the online retailer Asos said it was buying Topshop and three other brands from the Arcadia retail empire.

Asos has sealed a deal to buy Topshop, Topman, Miss Selfridge and HIT for £265million – but not any of their stores, which include Topshop and Topman at Whiteley Shopping Centre.

Administrators for Sir Philip Green’s retail group said Asos had paid another £65m for current and ordered stock.

Asos told investors on Monday morning that it would take on around 300 employees as part of the deal, which will not include any of the brands’ stores.

Arcadia went into administration at the start of December after pandemic closures further exacerbated the group’s troubles.

Last week, Boohoo said it was in exclusive talks to buy the Dorothy Perkins, Wallis and Burton brands in a move which will also not include any stores.

Online giant Boohoo could buy Dorothy Perkins, Burton and Wallis

Boohoo has also bought the Debenhams name and website without taking on any of its shops.

Debenhams wound up by judge as all its shops to close under Boohoo

Asos said its acquisition of the four brands would “resonate” with its core customer base of “20-somethings” in the UK.

It said it expected the deal to complete later this week, adding that it would also see one-off restructuring and transaction costs of an estimated £20m.

Asos chief executive Nick Beighton said: “We are extremely proud to be the new owners of the Topshop, Topman, Miss Selfridge and HIIT brands.

“The acquisition of these iconic British brands is a hugely exciting moment for Asos and our customers and will help accelerate our multi-brand platform strategy.

“We have been central to driving their recent growth online and, under our ownership, we will develop them further, using our design, marketing, technology and logistics expertise, and working closely with key strategic retail partners in the UK and around the world.”