By Matthew Roscoe • 19 January 2021 • 18:12
CREDIT: "Topshop Oxford Circus" by Magnus D is licensed under CC BY 2.0
PHILIP Green’s Arcadia Group is Set to Close 31 Stores Causing the Loss of 741 Jobs
The group had around 444 UK stores when it collapsed into administration at the end of November with these latest closures, first reported by The Times, set to include 21 ‘Outfit’ shops. The stores will not reopen once lockdown is lifted, resulting in 741 job cuts.
The Outfit chain sells a mix of products from the group’s other brands under one roof, mostly in out-of-town locations.
Administrator Deloitte was originally appointed on Monday, November 30, to manage the failing business – which includes Topshop, Wallis, Evans, Topman, Dorothy Perkins and Burton and is still seeking buyers for some or all of the group.
The deadline for bids passed on Monday, with Next leading the race to buy Topshop out of administration.
Deloitte, administrators to the Arcadia Group, sold the Evans fashion brand to Australian retailer City Chic Collective back in December in a £23m deal that excludes its 25-strong store network.
On Wednesday, December 2, the UK government announced that is was going to review the conduct of Arcadia directors after Business Secretary Alok Sharma confirmed he had written to the Insolvency Service.
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Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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