{"id":40939,"date":"2020-11-27T11:35:24","date_gmt":"2020-11-27T11:35:24","guid":{"rendered":"http:\/\/thevoiceoflondon.co.uk\/?p=40939"},"modified":"2020-11-27T11:35:24","modified_gmt":"2020-11-27T11:35:24","slug":"sir-philip-greens-topshop-empire-faces-collapse-within-days","status":"publish","type":"post","link":"https:\/\/blog.westminster.ac.uk\/thevoiceoflondon\/sir-philip-greens-topshop-empire-faces-collapse-within-days\/","title":{"rendered":"Sir Philip Green’s Topshop empire faces collapse within days"},"content":{"rendered":"

Arcadia Group who own the Topshop empire faces collapse within days.<\/strong><\/p>\n

Sir Philip Green\u2019s retail empire has been dealt its final blow and is preparing to appoint administrators.<\/p>\n

Arcadia Group owns Topshop, Dorothy Perkins, Burton, among others.<\/p>\n

Due to the pandemic retail stores have seen huge declines in sales leading to massive cutbacks.<\/p>\n

Arcadia has been in talk with lenders for the past few months in attempt to secure a \u00a330m loan<\/a>, we can now confirm this ended without success.<\/p>\n

Sources indicate the administrators could be appointed as early as next Monday, however, the plan is still to be finalised and could be delayed.<\/p>\n

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Sir Philip Green. Photo by: Financial Times photos | CreativeCommons<\/p><\/div>\n

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It is likely that insolvency will be confirmed within the next couple of weeks. Arcadia brands could be bought out by other retailers which include Oasis, Cath Kidston and Warehouse.<\/p>\n

These brands would become online-only fashion labels meaning all stores would close.<\/p>\n

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Sir Philip Green: From 'king of the High Street' to 'unacceptable face of capitalism' https:\/\/t.co\/xpFi70RDJu<\/a><\/p>\n

— BBC Business (@BBCBusiness) November 27, 2020<\/a><\/p><\/blockquote>\n