31 Arcadia shops set for permanent closure

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.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on email
Email

Leave a Comment

Your email address will not be published. Required fields are marked *

Related Articles

HTA responds to the 2021 Budget

Commenting in response to the Chancellor’s Budget,delivered on Wednesday, March 3, the Horticultural Trade’s Association (HTA) issued the following statement: “Optimism that Covid will be

Read More »
Latest Stories

Greetings from Paris!

Despite the ongoing lockdown – the end of which might thankfully be in sight – there has been no shortage of new product sourcing opportunities

Read More »

WWF Arctic Fur Seal

We can’t be alone in loving plush and this adorable range from WWF is one of our favourites as it is produced using eco-friendly and

Read More »

HTA responds to the 2021 Budget

Commenting in response to the Chancellor’s Budget,delivered on Wednesday, March 3, the Horticultural Trade’s Association (HTA) issued the following statement: “Optimism that Covid will be

Read More »

Free G-spotted newsletter subscription