Administrator, Deloitte and announced that 31 of the collapsed Arcadia group stores are set to close forever by the end of January, with 714 lost as a result. The latest news follows the November 2020 collapse of the entire Arcadia business, which runs 444 stores around the UK and employs some 13,000 staff.
The Times has reported that the first cuts will involved the closure of all 21 branches of Outfit, which was acquired by Arcadia from Sears in 1999. The Outfit fascia sells all Arcadia’s fashion brands at its out-of-town stores.
Fashion retail chain, Next, is amongst those which have placed bids for parts of the Arcdia empire and its brands, which include TopShop, TopMan, Burton, Dorothy Perkins, Evans, Miss Selfridge, Outfit and Wallis. Final bids were due on Monday January 18.
The Next bid was made in partnership with US Hedge fund, Davidson Kempner, but it faces competition from JD Sports, which has discussed a joint bid with US retailer, Authentic Brands.
The administrator has already agreed the sale of plus-sized brand, Evans, for £23 million to Australian company, City Chic Collective.
