Topshop owner Arcadia collapses into administration

British tycoon Sir Philip Green’s Arcadia fashion group has collapsed into administration, putting over 13,000 jobs at risk and becoming the country’s biggest corporate casualty of the COVID-19 pandemic so far, administrator Deloitte said on Monday.

No redundancies are being announced immediately as a result of the appointment of administrators and stores will continue to trade.

Arcadia owns the Topshop, Topman, Dorothy Perkins, Wallis, Miss Selfridge, Evans, Burton and Outfit brands, trading from over 500 stores.

More to come