{"id":41692,"date":"2020-12-01T14:42:29","date_gmt":"2020-12-01T14:42:29","guid":{"rendered":"http:\/\/thevoiceoflondon.co.uk\/?p=41692"},"modified":"2020-12-01T14:42:29","modified_gmt":"2020-12-01T14:42:29","slug":"the-fall-of-the-retail-empire-arcadia-group-filing-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/blog.westminster.ac.uk\/thevoiceoflondon\/the-fall-of-the-retail-empire-arcadia-group-filing-for-bankruptcy\/","title":{"rendered":"The fall of the retail empire: Arcadia Group filing for bankruptcy"},"content":{"rendered":"

The British retail company, Arcadia, was put in bankruptcy protection on Monday which placed 13,000 jobs at risk due to the COVID-19 pandemic. <\/strong><\/p>\n

According to CNN Business<\/a>, this move ought to protect the company from creditors while a buyer is soughted for all the parts of the company.<\/p>\n

Arcadia\u00a0Group<\/a> is a British multinational retailing company run by Philipp Green for 18 years. It owns high street clothing retailers like Burton, Dorothy Perkins, Evans, Miss Selfridge and Topshop.<\/p>\n

\"\"

Photo by: Slimmer_jimmer | Creative Commons<\/p><\/div>\n

England is in a four-week lockdown that has forced the closure of all shops selling items viewed as non-essential. The lockdown expires on December 2 and shops will be allowed to reopen.<\/p>\n

Ian Grabiner, Arcadia’s chief executive, said: “This is an incredibly sad day for all of our colleagues as well as our suppliers and our many other stakeholders. The impact of the Covid-19 pandemic including the forced closure of our stores for prolonged periods has severely impacted on trading across all of our brands.”<\/p>\n

\n

This yacht could save thousands of jobs. It\u2019s worth 100 million and is owned by Philip Green. #ArcadiaGroup<\/a> #PhilipGreen<\/a> pic.twitter.com\/L2My8KuUQc<\/a><\/p>\n

— james E foster (@jamesbroad1711) November 30, 2020<\/a><\/p><\/blockquote>\n