Topshop owner Arcadia could reportedly close 100 locations in its vast stores empire as leases on the shops come to an end by late 2020. That would follow more than 200 closures that have happened since 2016.
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.
British fashion billionaire Philip Green was named by a member of the House of Lords on Thursday as the businessman who used an injunction to suppress the publication of sexual harassment allegations by five employees.
Topshop has taken down an in-store feminist display less than half an hour after it had been put up and the retailer seems to have realised it had blundered as it’s since apologised and made a donation to charity.
A major credit insurer has cut the cover it will give for Arcadia suppliers with Euler Hermes reportedly writing to clients in the past fortnight as the fashion sector sees a wave of credit insurance cuts.
PwC should have flagged significant doubts over the future of BHS in an audit that was completed just days before the loss-making UK retailer was sold for a token one pound in 2015, ahead of its collapse a year later.
A British parliamentary committee has asked billionaire Philip Green to "prove" why he thought retailer BHS could stay in business before it was sold in 2015 for a token one pound, before collapsing a year later.