×
3 352
Fashion Jobs
NEXT
Delivery Coordinator - mk 1 Milton Keynes
Permanent · MILTON KEYNES
FARFETCH
SEO Specialist - Farfetch Platform Solutions
Permanent · LONDON
FARFETCH
Performance Marketing Executive - Farfetch Platform Solutions
Permanent · LONDON
FARFETCH
Senior Performance Marketing Executive, Farfetch Platform Solutions
Permanent · LONDON
FARFETCH
CRM Specialist – Farfetch Platform Solutions
Permanent · LONDON
FARFETCH
Stock Compliance Principal
Permanent · LONDON
FARFETCH
Senior SEO Specialist - Farfetch Platform Solutions
Permanent · LONDON
FARFETCH
Director of Finance Business Partnering - Platforms
Permanent · LONDON
FLANNELS
Retail Events Manager- Liverpool Flannels
Permanent · LIVERPOOL
FRASERS GROUP
Ecommerce Trading Manager
Permanent · LONDON
SPORTS DIRECT
Loss Prevention Supervisor
Permanent · NOTTINGHAM
FLANNELS
Loss Prevention Supervisor - Flannels
Permanent · DERBY
HOUSE OF FRASER
Loss Prevention Supervisor - House of Fraser
Permanent · CROYDON
NEXT
Sales Coordinator - Antrim Clearance
Permanent · ANTRIM
NEXT
Sales Coordinator - Edinburgh Gyle
Permanent · EDINBURGH
NEXT
Sales Coordinator - Belfast Boucher Retail Park
Permanent · BELFAST
NEXT
Sales Coordinator - Irvine Clearance
Permanent · IRVINE
NEXT
Delivery Manager - Bristol Cribbs
Permanent · BRISTOL
NEXT
Delivery Coordinator - Belfast Donegal Place
Permanent · BELFAST
STELLA MCCARTNEY
CRM Analyst
Permanent · LONDON
NEXT
Sales Coordinator - Blackburn Townsmoor
Permanent · BLACKBURN
NEXT
Sales Manager -Wrexham Outlet
Permanent · WREXHAM
Ads
Published
Nov 21, 2018
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Arcadia seeking significant store closures?

Published
Nov 21, 2018

A report has suggested Arcadia is looking to close around a third of its 500 leased UK stores, joining the wave of UK retailers trying to downsize their store estate as online shopping continues to soar.



Senior industry figures said sir Philip Green wants to cut the size of Arcadia’s store empire “substantially”, according to Property Week.

However the group, which owns retail chains Topshop, Topman, Dorothy Perkins, Evans, Miss Selfridge, Burton and Wallis, will have to wait for hundreds of leases to expire to move forward with its downsizing plans or take a hit on early terminations.

Whilst Marks & Spencer has launched a controlled store closure programme with plans to close 100 stores by 2022, many other national chains have opted for a CVA to alleviate the financial burden of having to operate giant store estates in a time when consumers prefer to shop online.

The procedure is available to companies in financial distress to exit leases on unprofitable stores or renegotiate terms with landlords, and is becoming increasingly popular with House of Fraser, New Look, Mothercare and The Original Factory Shop all launching CVAs this year.

According to a source familiar with Arcadia’s plans, the fashion group has not yet determined how many stores it will close and there is no set timeframe for the closures, reported Property Week. However, sir Philip Green “would love to reduce the size of all the chains substantially,” the source said.

Copyright © 2023 FashionNetwork.com All rights reserved.