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  • it's been confirmed that more than 13,000 jobs are at risk at the retail empire Arcadia, which includes top shop Burton and Dorothy Perkins, which has gone into administration.

  • This evening, Arcadia had been seeking a new injection of cash following lost sales because of the pandemic.

  • But a former boss off top shop, Jane Shepherdson, has told the BBC that the group's problems go back much further than the pandemic on.

  • She alleged that Sir Philip Green, Arcadia's chairman, had failed to invest in his retail empire on had made its downfall inevitable.

  • More details from our business editor, Simon Jack, in his pomp, a fashion emperor who dominated the High Street and didn't mind flaunting the vast wealth it brought him lavish parties attended by the rich, powerful and famous, a description he felt comfortable with himself.

  • The empire was full of household names that customers of all ages would recognize.

  • Tonight that empire has collapsed into administration.

  • There's going to be huge unemployment, Woman credited with building the top shop brand explains where it all went wrong.

  • Phillips overriding concern was to buy something as cheaply as he could possibly buy it on, then to sell it for as much as he could get for it.

  • The online players, such as a sauce on on boo who don't have the cost space off the stores.

  • They don't have to pay for staffing.

  • And there's doors.

  • All they have is their online presence.

  • They're much better at it.

  • They've invested a huge amount of money in it.

  • On they have a much better connection with their customers.

  • The list of retail failures is a long one, but Arcadia is the biggest for years.

  • There are 444 stores and hundreds more concessions.

  • Within other stores, there are 13,000 workers whose jobs are at risk and an estimated £350 million hole in the pension scheme.

  • This is or waas, the jewel in the crown that in truth slipped many years ago.

  • Once a powerhouse of fashion retail led by the king of the High Street, now a business in ruins led by a man considered the unacceptable face off capitalism.

  • But this is not about one person.

  • This tonight is about the 13,000 people who are facing a very uncertain Christmas on thousands Mawr in a very troubled high street retail sector.

  • Simon here.

  • Thanks so much for talking to us today.

  • I spoke to one Arcadia worker who didn't want to be identified, who said the uncertainty had come at the worst possible time.

  • Ah, lot of us are feeling a bit anxious because we don't know the full extent about what's happening ourselves.

  • For us, it's about money around Christmas time.

  • Bills have to go out.

  • We don't know if we can afford stuff for Christmas.

  • We're worried about what will happen to our pension schemes.

  • Will we still get paid if we in administration tonight?

  • Sir Philip is here on his £100 million yacht in Monaco, where his wife is resident on who received £1.2 billion tax free dividend from the business in 2000 and five.

  • There is another twist.

  • Debenhams makes money from renting store space to Arcadia brands.

  • Arcadia's collapse could scupper a rescue of the department store by J.

  • D.

  • Sports.

  • Another 12,000 jobs at risk.

  • The pandemic has been brutal to businesses with underlying health issues.

  • Suddenly, you've had coverted, which has left you with a sort of perfect storm and retail on those retailers who didn't move on during that perfect storm are the ones who are going to suffer and die.

  • And that's what's happening to Arcadia.

  • But they're not alone.

  • There are other retailers in a perilous position as we stand today.

  • Stores are open in Scotland and will open in England on Wednesday as administrators try and sell off Christmas stock and maybe some bits of the business.

  • Simon's with me now let's talk about the future off these big brands on.

  • Indeed, what happens to customers who have got orders in right now?

  • Well, the I've got the administrator's letter here, they're saying they're redundancies are being made at the moment.

  • All online orders made over the Black Friday weekend will be honored.

  • And, as I said, they're trading.

  • The stores will reopen, but beyond that, it's very unclear.

  • There's a lot of industry chatter that some of the online brands might want to snap up the top shops Top man's of this world.

  • But it's the brands they want, not the physical stores, and that's where the jobs are.

  • So it's a very uncertain outlook.

  • You've talked to civility green many times over the years.

  • Uh, you mentioned his whereabouts there.

  • I'm just wondering what you think is going through his mind.

  • And has there been a peep out of him today?

  • I haven't heard from him today.

  • Listen, for all his abrasive nature, he's actually more sensitive or thin thin skins than people might even explain his behavior thin skin than people think.

  • So he will feel this keenly.

  • But that will be cold comfort to the people who are facing an uncertain future.

  • Is there another act in the Philip Green retail drama?

  • I don't know.

  • He's very stubborn.

  • He is very slow to changes.

  • We've seen the future of retail is about technology.

  • I don't think he's got the skill set that modern retail requires.

  • Simon.

  • Many Thanks again, Simon Jack.

  • There are business editor.

it's been confirmed that more than 13,000 jobs are at risk at the retail empire Arcadia, which includes top shop Burton and Dorothy Perkins, which has gone into administration.

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Arcadia collapses into administration with 13,000 jobs at risk - BBC News

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    林宜悉 posted on 2020/12/01
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