High street giant, Arcadia Group, which includes the Topshop, Dorothy Perkins and Burton brands, has confirmed they have called in administrators after the coronavirus pandemic ‘severely impacted’ sales throughout 2020.
It is understood that there are no plans for any immediate redundancies and stores will continue to trade once local tiers come into play on Wednesday.
Ian Grabiner, chief executive of Arcadia, said: ‘This is an incredibly sad day for all of our colleagues as well as our suppliers and our many other stakeholders.
‘The impact of the Covid-19 pandemic, including the forced closure of our stores for prolonged periods, has severely impacted on trading across all of our brands.
