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Sir Philip Green’s Arcadia retail empire has fallen into administration with 13,000 jobs at risk, it has been confirmed.
The Arcadia Group – which has been hammered by plummeting customers during the coronavirus pandemic – owns TopShop, TopMan, Burton, Dorothy Perkins, Miss Selfridge, Wallis and Evans.
No redundancies have been announced yet, but 9,294 employees are already on furlough.
The group runs 444 stores in the UK and 22 overseas, and they will continue to operate.
Administrators Deloitte said in a statement: “No redundancies are being announced today as a result of the appointment and stores will continue to trade.
“The Joint Administrators are assessing all options available to the group.
“The administrators will be honouring all online orders made over the Black Friday weekend and will continue to be operating all the existing sale channels of the business.”
Ian Grabiner, chief executive of Arcadia, said: “This is an incredibly sad day for all of our colleagues as well as our suppliers and our many other stakeholders.”
He added: “Our stores will remain open or reopen when permitted under the Government Covid-19 restrictions, our online platforms will be fully operational and supplies to all of our partners will continue.”
Meanwhile, 68-year-old Sir Philip is planning to head for a festive break at an exclusive Indian Ocean resort in the sunny Maldives.
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Green – who owned department store BHS before it collapsed in a scandal – will be sunning himself at the One & Only Reethi Rah resort, where some villas cost £30,000 a night, the Daily Mirror reported.
Former BHS worker Lin MacMillan said: “This will go down like a lead balloon with Arcadia staff. It’s like sticking two fingers up at them.”
Another, Hannah Cullen, added: “It is just typical of him, he doesn’t care. It is so insensitive when his workers could be left trying to find another job in retail, when there are hardly any around.
"He has no grip of reality, he lives in a bubble.”
Green did not respond to calls from the Mirror on November 26.
- In the News
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