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Philip Green launches ‘review’ of Arcadia

Sir Philip Green has reportedly launched a review of Arcadia Group and hired advisers from Deloitte to explore a raft of store closures.

The Telegraph said the restructuring could lead to “hundreds of job losses”.

Meanwhile, Arcadia has reportedly closed 210 shops over the last two years, representing around a fifth of its store portfolio.

The retail group closed the stores as leases ran out, The Sunday Telegraph reported.

A total of 62 Dorothy Perkins stores closed, followed by 41 Evans shops and 26 Wallis units.

There were a total of 80 closures across Burton, Topshop, Topman and Miss Selfridge.

Colliers International said Arcadia’s business rates bill would have jumped around £20m over the last five years, to around £128m last year.

Drapers has contacted Arcadia for comment. 

 

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