Around 15,000 jobs are reported to be at risk as the Arcadia group looks set to collapse within days.
The retail group, which has already closed a number of popular Swindon town centre stores including Topshop, Dorothy Perkins and Burton, is expected to appoint administrators for Deloitte in the coming days.
The news marks yet another blow to the retail industry and could see the closure of the Outfit unit at the Orbital Retail Park.
The group could fall into administration as soon as Monday 30th November.
In response to the latest reports, an Arcadia spokeswoman 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 Ireland as soon as the government Covid-19 restrictions are lifted next week.”
