Britain's Arcadia could fall into administration next week - Sky News

It cited one retail industry figure as saying Arcadia's collapse had become inevitable after talks with a number of lenders about an emergency 30 million pounds ($40 million) loan ended without success. The appointment of administrators could happen as early as Monday, it said.


Reuters | London | Updated: 27-11-2020 16:35 IST | Created: 27-11-2020 16:10 IST
Britain's Arcadia could fall into administration next week - Sky News
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British fashion group Arcadia, which is controlled by retail businessman Philip Green, is preparing to appoint administrators from Deloitte as soon as next week, Sky News reported on Friday. It cited one retail industry figure as saying Arcadia's collapse had become inevitable after talks with a number of lenders about an emergency 30 million pounds ($40 million) loan ended without success.

The appointment of administrators could happen as early as Monday, it said. Arcadia runs brands including Topshop, Topman, Dorothy Perkins and Burton and employs about 15,000.

 

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