Arcadia news and archive

Former Arcadia Group employees secure 850 million pound pension deal

Former workers who were left financially stranded after the demise of Arcadia Group have now been able to secure their future in a 850 million pound deal with insurance company Aviva. The agreement was settled with the trustees of the Arcadia Group and Arcadia Group Senior Executive Pension Scheme, seeing around 8,800 members receive benefits....

BusinessFeatured

Under Boohoo ownership, Arcadia brands and Debenhams remain unprofitable

When fast fashion chain Boohoo acquired Debenhams in 2021 there was little inclination to restore the department store to its former glory. Instead Boohoo bought its brand equity, the Debenhams website and customer base, for 50 million pounds. But like other brands under Boohoo’s portfolio, which include former Arcadia Group’s Dorothy Perkins,...

People

Topshop founder Ralph Halpern dies, age 83

The creator of Topshop Ralph Halpern has died at the age of 83, according to reports. The high street tycoon was the chief executive of menswear retailer Burton Group from the late 1970s to early 1990s. During this time, he was involved in the establishment of Topshop, which went on to become a notable womenswear chain throughout the 1990s and...

BusinessFeatured

New audit rules could prevent companies like BHS and Arcadia Group from administration

After several high profile company collapses - from BHS to Arcadia to Debenhams - new audit reforms and corporate governance is meant to avoid company failures and safeguard British jobs in the future. The proposed reforms would break up the dominance of the “big four” audit firms and strengthen the UK’s position as a world-class destination for...

BusinessFeatured

Boohoo to add more than 500 million pounds in annual sales if Arcadia’s deal crystallised

The British fashion e-commerce darling has entered exclusive talks with the administrators of defunct Arcadia Group to acquire Dorothy Perkins, Wallis and Burton brands. If their offer is accepted by administrators at Arcadia Group, the e-tailer could boost its group annual sales by 500 million pounds. “Boohoo Group confirms that it is in...

Business

Boohoo could snap up Dorothy Perkins, Wallis and Burton

British fast-fashion group Boohoo has said it is in “exclusive discussions” with the administrators of collapsed retail empire Arcadia over the acquisition of the Dorothy Perkins, Wallis and Burton brands. But the company added that the discussions “may or may not result in agreement of a transaction. A further announcement will be made when...

Business

Arcadia collapsed with 750 million pounds of debt

Arcadia Group, which called in administrators from Deloitte at the end of November, was reportedly sitting on a 750 million pound pile of debt when it collapsed. Reports prepared by Deloitte and seen by The Telegraph reveal Topshop and Topman failed with gross liabilities of more than 550 million pounds. Meanwhile, multi-brand discount chain...

Retail

Asos may keep Topshop's Oxford Circus flagship if acquisition goes ahead

British e-tail giant Asos could reportedly retain Topshop’s flagship store on Oxford Circus if it goes ahead with an acquisition of the brand. The three-storey building has been a retail icon since opening back in 1994, living through the great rise, and then subsequent fall, of the brand’s owner, Arcadia. Chiefs at Asos, which this week...

BusinessFeatured

Asos in ‘exclusive talks’ to snap up Topshop, other Arcadia brands

Asos has confirmed it has joined the race to acquire brands from collapsed retail empire Arcadia. The British e-tailer said Monday it has entered exclusive talks with the administrators of Arcadia over the acquisition of the Topshop, Topman, Miss Selfridge and HIIT brands. Rival British Fashion retailer Next, which was earlier thought to be the...

BusinessFeatured

Next pulls out of race to buy Topshop

Next, which was thought to be the frontrunner in a race to acquire assets from the collapsed Arcadia Group, has reportedly pulled out of the bidding. A consortium comprising Next and US investment firm Davidson Kempner Capital Management were teaming up on a potential offer, but has now withdrawn, Sky News reports. A Next spokesman told Sky...

BusinessFeatured

Arcadia to permanently close 31 more stores, cut 714 jobs

Administrators of Arcadia are reportedly set to permanently close 31 of the group’s stores by the end of January, resulting in some 714 redundancies. The closing stores include the entire 21-strong store estate of Arcadia’s Outfit brand, The Times reports. Arcadia called in administrators from Deloitte at the end of November after its sales took...

Business

JD Sports and Authentic Brands in talks over joint bid for Topshop

JD Sports and Authentic Brands could reportedly team up to acquire Topshop, the flagship brand of the collapsed Arcadia Group. UK sportswear retailer JD Sports and Authentic Brands, the US owner of Forever 21 and iconic department store chain Barneys, are in the early stages of talks over a joint bid for Topshop, Sky News reports. It comes just...