Arcadia is now operating in administration with speculation that Boohoo, Frasers, Next and M&S would be interested in buying parts of it. There are also fears over the knock-on effect on its suppliers.
Giant fashion group Arcadia is believed to be on the verge of the worst UK corporate collapse of the Covid crisis, with the firm expected to go into administration as early as Monday. This would put 13,000 jobs at risk.
Topshop owner Arcadia is reportedly in urgent talks to secure fresh funding in order to stay afloat. That's according to a weekend report that said the group has approached lenders about borrowing roughly £30m".
Frasers’ execs may have been talking about potential store closures in recent periods, but the firm is also planning openings and has announced its first regional store since the pandemic began at Leicester's Fosse Park.