Scarborough's Topshop store and three others could close if Arcadia goes into administration

The Arcadia group, the retail empire owned by Sir Phillip Green, could fall into administration today.

Wednesday, 12th June 2019, 10:45 am
The Brunswick Centre, in which Arcadia have three stores - Topshop, Topman and Dorothy Perkins - and a Wallis concession in Debenhams. PIC: Richard Ponter

The groups creditors are due to vote on restructuring plans which would result in 23 stores closing and rent cuts at another 194.

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Arcadia needs the support of 75 per cent of creditors at today's vote to avoid administration.

If the deal fails three stores and one concession in Scarborough's Brunswick Centre could all close which would have a big impact on the town's retail landscape.

The company has Topshop, Topman and Dorothy Perkins stores in the Brunswick Centre as well as a Wallis concession in Debenhams.

t was revealed last month that all 11 US Topshop and Topman stores and 23 UK stores are to close - including the flagship Miss Selfridge store on Oxford Street in London.

However the rescue deal may be bound for failure after Arcadia's second-biggest landlord, Intu Properties, indicated it would oppose the plans.

Intu Properties own several UK shopping centres have said it will not accept the proposed rent cuts.

If the deal fails, 18,000 jobs would be under threat.

The collapse would be another blow to owner Sir Philip Green, who has battled to save his reputation after the collapse of BHS.

He sold BHS for £1 in 2016 though later agreed to pump £363 million into the company's pension scheme.