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  • Sir Philip Green's retail empire.

  • Arcadia, which owns big name High Street stores like Top Shop Burton and Dorothy Perkins, is on the brink of collapse, putting 13,000 jobs at risk.

  • The business has more than 500 stores and has been run by Sir Philip Green for almost 20 years.

  • It's understood administrators could be appointed as early as Monday.

  • In a statement today, Arcadia said the coronavirus pandemic had had a material impact on trading across its businesses.

  • On its board was exploring All options are business correspondent Emma Simpson, reports Dorothy Perkins and Burton's to Miss Selfridge and top shop, The Jewel in the Crown.

  • Some of the best known names on the High Street.

  • They make up the Arcadia Group with more than 500 stores.

  • Top Shop alone has some 250 shops and concessions.

  • In 170 old towns and cities across the UK, bricks and mortar stores have become an albatross around any big companies Neck Andi that there would be newer fashion companies who've grown up who are digital natives who started their business digitally on there, much more nimble.

  • They're much more able to adapt than many of the Arcadia businesses.

  • The owner is Sir Philip Green.

  • Colorful on controversial, he built one of the biggest clothing empires in the country, courting celebrities along the way.

  • But then he sold BHS for a pound, and it collapsed a year later.

  • Did you?

  • Do you mind not looking at me like that all the time?

  • It's really disturbing, leaving him facing the fury of MPs and having to cough up millions to the pension schemes.

  • He's gone from zero to hero, and now it looks as though he's going back to zero again.

  • Phillips style worked really well for a while, but it's been working progressively less well.

  • Today's retail industry needs huge investment, and it's never bean his style to invest much in his businesses.

  • As was exemplified by the dividend of about 1.2 billion that he and his family took out of the business some years ago.

  • This business has been in trouble long before the pandemic, but this second locked down now looks to be the final nail in the coffin.

  • In a statement, the company said the forced closure of our stores for sustained periods as a result of the pandemic has had a material impact on trading across our business.

  • As a result, the Arcadia boards have been working on a number of contingency options to secure the future off the group's brands.

  • Grant Dougherty only started his job at a Burton's concession in Carlisle in February.

  • He was made redundant last month.

  • It wasn't surprised at all.

  • We did see some warning signs, especially with quite a lot of the customers, the football, reducing quite a lot.

  • My heart just go out to all of the people.

  • I totally know how they feel.

  • It is quite a difficult position to be in, especially with the high Street in general, kind of looking in trouble, sometimes on certain times for the 13,000 staff.

  • The company says thes stores will reopen next week.

  • Is covert restrictions are lifted?

  • But it's now a business on the brink, potentially the biggest retail failure of this pandemic.

Sir Philip Green's retail empire.

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Philip Green’s retail empire on brink with 13,000 jobs at risk - BBC News

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    林宜悉 posted on 2020/12/01
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