As the pandemic continues to change the landscape of many industries forever, retail continues to be one of the sectors that has been affected the most.
It was announced this week that British e-tailer Asos is in talks to buy Topshop, Topman and Miss Selfridge, and fellow UK e-fashion success story, boohoo, might be snapping up Debenhams. While the buyouts are good news for the brands, the opposite is true for employees. With Asos and boohoo's presence strictly online, the new owners will have no need for the staff nor the bricks and mortar stores.
In news that caused Asos shares to rise by 6 per cent, the company issued a statement saying: "Asos notes recent media speculation and confirms that it is in exclusive discussions with the administrators of Arcadia over the acquisition of the Topshop, Topman, Miss Selfridge and HIIT brands.
"The board believes this would represent a compelling opportunity to acquire strong brands that resonate well with its customer base. However, at this stage, there can be no certainty of a transaction and Asos will keep shareholders updated as appropriate. Any acquisition would be funded from cash reserves."
As high street fashion institutions in the UK and US either close for good or evolve into something else according to the wishes of their new owners, we take a look at some of the retail and dining brands that have shut up shop due to the effects of the pandemic.
Scroll through our gallery for 38 global brands that have been bought up, restructured or haven’t survived the shift in customer spending trends …