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ARCADIA TOPSHOP OWNER FACES COLLAPSE WITHIN HOURS

5 months ago | World Business News | 0 comments

By Xai Reyes

Sir Philip Green’s retail empire Arcadia, which includes Topshop, Burton and Dorothy Perkins, could face collapse within hours.

The company is likely to enter administration on Monday, putting 13,000 jobs at risk.

Senior sources at the company said they do not expect a last-minute rescue deal.

The group had been seeking extra cash to help it plug the gap from lost sales during the pandemic.

Billionaire Mike Ashley’s Frasers Group wrote to Arcadia on Sunday saying it would offer an emergency loan of up to £50m to help with the group’s short-term cash-flow problems.

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