Thousands of jobs at risk as retail empire set to call in administrators

Sir Philip Green’s retail empire is on the brink of collapse with around 15,000 jobs at risk.

The Arcadia Group, which runs the Topshop, Dorothy Pe r k i n s and Burton brands, is expected to appoint Deloitte as administrators in the coming days.

The company said it is “working on a number of contingency options”.

An Arcadia spokesman said: “We are aware of the recent media speculation surrounding the future of Arcadia.

“The forced closure of our stores for sustained periods as a result of the Covid-19 pandemic has had a material impact on trading across our businesses.

“As a result, the Arcadia boards have been working on a number of contingency options to secure the future of the group’s brands.

“The brands continue to trade and our stores will

be opening again in England and the Republic of Ireland as soon as the Covid-19 restrictions are lifted next week.”

The group had been in emergenc y talks with lenders in a bid to secure a £30 million loan to help shore up its finances.

If the insolvency is confirmed, it is expected to trigger a scramble among creditors to get

control of company assets. It is the latest retailer to have been hammered by the closure of stores in the face of coronavirus, with rivals including Debenhams, Edinburgh Woollen Mill Group and Oasis Wa r e h o u s e all sliding into insolvency since the pandemic struck in March.

The group has more than 500 UK retail stores.

Sir Philip Green’s empire is close to collapse.