Arcadia Group has appointed property advisers ahead of a possible company voluntary arrangement.
The retail group has appointed property consultancy GCW to work with Deloitte on restructuring the business.
In a statement earlier this month, Arcadia said it would not close a ”significant” number of stores: “None of the options being explored involve a significant number of redundancies or store closures. The business continues to operate as usual including all payments being made to suppliers as normal.”
Arcadia has reportedly closed 210 shops over the last two years, or around a fifth of its store portfolio.
Drapers has contacted Arcadia for comment. Deloitte and GCW have declined to comment.
More to follow.