Business
Topshop joins retail casualties as Arcadia calls in administrators – The Australian Financial Review
In another blow to the UK’s retail industry in the run-up to the crucial Christmas period, the owner of brands such as Topshop and Dorothy Perkins said it has called…
“We will be rapidly seeking expressions of interest and expect to identify one or more buyers to ensure the future success of the businesses,” said Matt Smith, Deloitte’s joint administrator.
Mr Green, who was pictured over the weekend in Monaco where his £100 million ($181.4 million) super yacht Lionheart is docked, acquired Arcadia for £850 million in 2002.
He had no immediate comment but his CEO laid the blame for Arcadia’s demise firmly on the pandemic.
“In the face of the most difficult trading…
Continue Reading
