UK retailer Arcadia enters into administration, Retail News, ET Retail

Davida Erdahl

London: British clothes retail group and Topshop operator Arcadia, ravaged by coronavirus lockdowns and fierce on the internet levels of competition, on Monday entered into administration.

The group, which is comprised of 8 of the UK’s best acknowledged higher-avenue and vogue retail manufacturers and owned by controversial businessman Philip Green, will be administered by the consultancy agency Deloitte, in accordance to a push release.

The conclusion throws into uncertainty 13,000 employment at the firm’s flagship outlets which includes Topshop, Topman, Dorothy Perkins, Burton, Skip Selfridge, Evans and Wallis.

Nevertheless, Deloitte has specified that there are no layoffs on the horizon and that buying and selling will keep on with a reopening of outlets this week as England emerges from a four-week coronavirus lockdown.

“This is an exceptionally sad working day for all of our colleagues as well as our suppliers and our numerous other stakeholders,”Arcadia’s controlling director Ian Grabine said

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