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The online fashion retailer has bought the Topshop, Topman, Miss Selfridge and HIIT fashion after they were plunged into administration last year. It is believed the buyer also paid another £65million for current and pre-ordered stock.

However, thousands of jobs are still at risk as the deal, which will be funded from cash reserves, does not include stores.

Asos confirmed it will take on around 300 employees as part of the deal but not any of the thousands of stores across the country.

A source close to the matter said the store closures would be around 2,500 jobs at risk.

The deal is expected to be completed this Thursday.

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