×
3 526
Fashion Jobs
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, Eldon Square
Permanent · Newcastle upon Tyne
ABERCROMBIE AND FITCH STORES
Abercrombie & Fitch - Graduate Manager in Training, Ashford Designer Outlet
Permanent · Ashford
COTY
Visual Merchandise Skincare Project Manager
Permanent · London
NEW BALANCE
Retail Area Manager
Permanent · Warrington
HARVEY NICHOLS
Security Officer
Permanent · EDINBURGH
BOOHOO GROUP
Talent Development Partner
Permanent · MANCHESTER
SELFRIDGES
Personal Shopping Consultant
Permanent · BIRMINGHAM
SELFRIDGES
Personal Shopping Operations Manager
Permanent · LONDON
FRASERS GROUP
Warehouse Control Room Supervisor
Permanent · SHIREBROOK
FRASERS GROUP
Stationery Buyer
Permanent · SHIREBROOK
FLANNELS
Loss Prevention Supervisor - Flannels
Permanent · SHEFFIELD
UNDER ARMOUR
District Manager
Permanent · BICESTER
BOOHOO GROUP
Product Compliance Coordinator
Permanent · MANCHESTER
BOOHOO GROUP
Product Compliance Administrator
Permanent · MANCHESTER
FLANNELS
Loss Prevention Supervisor - Flannels
Permanent · RUSHDEN
SPORTS DIRECT
Casual Loss Prevention Assistant
Permanent · LONDON
MATCHES FASHION
HR Business Partner - Technology
Permanent · LONDON
MATCHES FASHION
Freelance Content Management Specialist
Permanent · LONDON
MATCHES FASHION
Delivery Manager - Apps
Permanent · LONDON
MATCHES FASHION
Head of Performance Marketing
Permanent · LONDON
MATCHES FASHION
Senior Product Manager - Search And Discovery
Permanent · LONDON
MATCHES FASHION
Product Manager - Payments
Permanent · LONDON
Published
Jan 27, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Arcadia had debts of £750m as it collapsed

Published
Jan 27, 2021

The size of debt that forced Arcadia into administration was revealed Wednesday: £750 million. However, the group’s administrator Deloitte warned the final figure was expected to be "materially higher”.


photo: Nigel Taylor


It was the group’s star Topshop and brother brand Topman that did most of the damage, failing with gross liabilities of more than £550 million, according to filings. Meanwhile discount brand Outfit also owed £80m, according to analysis sent to creditors and seen by The Telegraph.

Creditors to Topshop and Topman are owed £82.2m with overseas suppliers and property owners hit the hardest. At least 22 firms are owed between £1 million to £3 million each, including property giants Savills and Unibail-Rodamco-Westfield, owner of the Westfield White City shopping mall in London.

However, it has yet to be revealed how much Sir Philip Green’s retail empire collapse will affect the 9,000 members of its pension scheme or how much is owed to HM Revenue & Customs and from unpaid VAT.

It also excludes "a number of intercompany creditors, amounts due under guarantees crystallised by the insolvency”, understood to include amounts owed to companies owned by Sir Philip and his family, the report says. Arcadia called in Deloitte last month.

Deloitte also said it would update creditors, including landlords and suppliers, as it gathered further information.

Earlier in the week, online fashion retailer Asos confirmed it was in exclusive talks to buy the Topshop, Topman Miss Selfridge and HIIT brands.

However, it has no plans to acquire any of the stores, putting the majority of its 13,000 workforce at risk.

Administrators have already begun winding down the stores, with more units expected to be closed permanently by the end of the month, Deloitte said. 

Copyright © 2023 FashionNetwork.com All rights reserved.