Sir Philip and Lady Green spent millions as the retail chain they had off-loaded went to the wall.

The Swedish furniture giant could gain space in the popular London shopping location.

The jobs are set to be lost at a former Burtons factory which is now an Arcadia distribution centre.

Asos buys Topshop, Topman, Miss Selfridge and HIIT brands, but not their shops, in £295m deal.

The online fashion retailer would take on the brands but not the shops from failed retail group Arcadia.

Administrators for Sir Philip Green's empire have been seeking buyers for the group since November.

A consortium including the fashion chain wants to buy the Arcadia group out of administration.