Arcadia could close as many as 200 stores as it looks to restructure its property portfolio in the next three years.
Sir Philip Green, owner of Arcadia, the parent company behind young fashion womenswear retailer Topshop, said last year that the hundreds of leases that are coming up for renewal in the next few years, creating an opportunity to consolidate the presence of his brands in many towns and reduce the group’s rent bill.
About 500 Arcadia leases are due to expire over the next three years, and the Financial Times has reported that 150 to 200 shops could be shut, although the final decision has yet to be made.
Arcadia, which also operates menswear chains Topman and Burton, womenswear chains Dorothy Perkins, Wallis and Miss Selfridge, plus-size womenswear chain Evans, and department store chain Bhs, has about 2,400 stores across its different fascias.
The retail group is expected to seek out new stores, close some and negotiate better leases as part of its portfolio restructure
Arcadia has already begun relocating some stores as it begins to sell brands including Burton, Wallis and Dorothy Perkins through its Bhs department stores.