Arcadia latest retailer on edge of administration
By Rob Freeman | 27th November 2020
The Arcadia retail group - which includes well-known high street names such as TopShop, Burton and Dorothy Perkins - could be heading into administration within days.
Talks between Arcadia owner Sir Philip Green about borrowing £30million to see the business through to Christmas are believed to have collapsed.
Administrators for the group, which has around 500 shops, could be called in on Monday with 13,000 jobs potentially at risk.
The company's online operations and shops will be able to trade subject to coronavirus restrictions.
An Arcadia spokesman said the pandemic has had a "material impact" across the business.
They said: "The Arcadia boards have been working on a number of contingency options to secure the future of the group's brands.
"The brands continue to trade and our stores will be opening again in England and the Republic of Ireland as soon as the government Covid-19 restrictions are lifted next week."
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