Arcadia Group close to collapse
Sir Philip Green’s Arcadia Group is reportedly close to collapse after a source from the group told the BBC that it does not expect there to be any last minute rescue deal.
This is despite Mike Ashley’s Frasers Group offering Arcadia an emergency £50 million loan to help keep the business afloat.
According to the BBC, the source said the group could enter administration “within hours”. This could put 13,000 jobs at risk.
Arcadia’s retail brands include Topshop, Topman, Dorothy Perkins, Burton, Evans, Miss Selfridge, Wallis and Outfit.
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