Topshop Owner Sir Philip Green To Close 23 Stores, Putting 520 Jobs At Risk

Sir Philip Green’s Arcadia Group has announced plans to shut 23 stores as part of a rescue plan, putting 520 jobs at risk.

Dorothy Perkins, Burton, Topshop and Topman stores have been earmarked for closure.

The retail group’s proposals will also see rent cut at another 194 outlets, the Press Association reports. 

Arcadia chief executive Ian Grabiner blamed a “backdrop of challenging retail headwinds, changing consumer habits and ever-increasing online competition” for the move and said “all possible strategic options” had been considered.

He added: “This has been a tough but necessary decision for the business. We will ensure all potentially affected colleagues are kept fully informed as we seek approval from our creditors on today’s CVA proposals.”

The stores set to close are:

  • Aberdeen – Dorothy Perkins, Burton

  • Ashton under Lyne – Topshop, Topman

  • Bedford  – Topshop, Topman

  • Bluewater – Miss Selfridge

  • Cheshunt – Outfit

  • Cork – Dorothy Perkins, Evans

  • Dublin  – Evans, Wallis, 

  • Dublin – Topshop, Miss Selfridge

  • Dublin – Topshop, Topman

  • Dublin – Wallis

  • Fareham – Topshop, Topman

  • Galway – Miss Selfridge

  • Glasgow – Burton, Topman

  • Luton – Topshop, Topman

  • Newcastle upon Tyne – Outfit

  • Nuneaton – Topshop, Topman

  • Reading – Dorothy Perkins, Burton

  • Salisbury – Topshop, Topman

  • Southend – Miss Selfridge

  • Stirling – Dorothy Perkins, Burton

  • Swindon – Dorothy Perkins, Burton

  • Swindon – Miss Selfridge, Wallis, Evans

  • York – Dorothy Perkins, Burton

Last month it was reported Green had appointed two restructuring specialists to the board of his retail empire, as the tycoon looked to shake up the business. 

A day earlier it was revealed that Topshop’s US backer Leonard Green & Partners had sold its 25% stake in the business, with two representatives from the private equity firm also resigning their board positions at Arcadia.

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