Dozens of jobs across Tayside and Fife are at risk as a major retail chain is on the brink of collapse.
Sir Philip Green’s Arcadia retail empire – which includes the Topshop, Dorothy Perkins, Miss Selfridge, Wallis and Burton brands – is set to call in administrators.
It puts around 15,000 jobs and hundreds of UK shops at risk.
Shops/concessions at risk in Courier Country
- Topshop, Overgate Shopping Centre, Dundee
- Topshop, Kingsgate Shopping Centre, Dunfermline
- Dorothy Perkins, within Debenhams, Overgate Shopping Centre, Dundee
- Dorothy Perkins, Abbeygate Centre, Arbroath
- Dorothy Perkins/Wallis, within Debenhams, High Street, Perth
- Dorothy Perkins/Burton, High Street, Kirkcaldy
- Dorothy Perkins/Burton, Kingsgate Shopping Centre, Dunfermline
- Burton, High Street, Kirkcaldy
- Miss Selfridge/Wallis, within Debenhams, Overgate Shopping Centre, Dundee
- Wallis, within Debenhams, Kingsgate Shopping Centre, Dunfermline
Material impact on trading
Arcadia said it is “working on a number of contingency options” in response to reports it will appoint Deloitte as administrators next week.
The firm said: “We are aware of the recent media speculation surrounding the future of Arcadia.
“The forced closure of our stores for sustained periods as a result of the Covid-19 pandemic has had a material impact on trading across our businesses.
“As a result, the Arcadia boards have been working on a number of contingency options to secure the future of the group’s brands.
“The brands continue to trade and our stores will be opening again in England and ROI as soon as the Government Covid-19 restrictions are lifted next week.”
Emergency talks
The group had been in emergency talks with lenders in a bid to secure a £30 million loan to help shore up its finances.
If the insolvency is confirmed, it is expected to trigger a scramble among creditors to get control of company assets.
It is the latest retailer to have been hammered by the closure of stores in the face of coronavirus, with rivals including Debenhams, Edinburgh Woollen Mill Group and Oasis Warehouse all sliding into insolvency since the pandemic struck in March.
The group has more than 500 retail stores across the UK, with the majority of these currently shut as a result of England’s second national lockdown, which will end next week.
