Arcadia boss Sir Philip Green is preparing to invest £135m in a makeover of its brands, which include Topshop, Topman, Dorothy Perkins and Miss Selfridge, as he battles to save the high street empire.
The money will be invested over the next three years, the company said in a letter to its staff, seen by The Daily Mail. Stores will receive £75m for refurbishments, and £60m will be invested in upgrading the online offer.
Arcadia has also reportedly signed a deal to launch Topshop and Topman clothing on Asos within the next few months.
The letter to staff follows the launch of Arcadia’s company voluntary arrangement (CVA) earlier this month, under which 25 stores are earmarked for closure.
A further 25 Miss Selfridge and Evans stores are likely to shutter as the property holding companies for both businesses face administration.