Thousands of jobs at risk as Topshop and Topman, Burton and Dorothy Perkins under threat of closure
Sir Philip Green’s Arcadia Group faces collapse within days putting up to 15,000 jobs at risk, it has been revealed.
It is understood that Arcadia Group – which owns Topshop and Topman, Burton and Dorothy Perkins – is preparing to appoint administrators from Deloitte as soon as next week, Sky News reported.
If the insolvency is confirmed, stores in Burnley, Blackburn, Preston, Wigan, Blackpool and Lancaster could face permanent closure.
The group has more than 500 retail stores across the UK, with the majority of these currently shut as a result of England’s second national lockdown, which will end on December 2nd.
According to national reports, the firm said it had been working on "contingency options" to secure the group's future, and that it expected its stores to reopen next week when the UK Government's latest four-week lockdown for England ends.
Arcadia owns the Topshop, Topman, Dorothy Perkins, Wallis, Miss Selfridge, Evans and Burton brands, trading from over 500 stores up and down the country.