Sir Philip Inexperienced’s Arcadia retail empire has fallen into administration with 13,000 jobs in danger, directors have confirmed.
They run shops throughout the north and north-east together with Topshop, Topman, Dorothy Perkins, Wallis, Burton, Miss Selfridge and Evans.
An announcement from directors Deloitte mentioned: “No redundancies are being introduced at this time on account of the appointment and shops will proceed to commerce.
“The Joint Directors are assessing all choices accessible to the Group. The directors will likely be honouring all on-line orders remodeled the Black Friday weekend and can proceed to be working all the prevailing sale channels of the enterprise.”
Ian Grabiner, chief govt of Arcadia, mentioned: “That is an extremely unhappy day for all of our colleagues in addition to our suppliers and our many different stakeholders.”
He added: “Our shops will stay open or reopen when permitted beneath the Authorities Covid-19 restrictions, our on-line platforms will likely be totally operational and provides to all of our companions will proceed.”
Matt Smith, joint administrator at Deloitte, mentioned: “We are going to now work with the prevailing administration group and broader stakeholders to evaluate all choices accessible for the way forward for the group’s companies.
“It’s our intention to proceed to commerce the entire manufacturers and we sit up for welcoming clients again into shops when lots of them are allowed to reopen.
“We will likely be quickly searching for expressions of curiosity and count on to determine a number of consumers to make sure the long run success of the companies.”
Retail commerce union Usdaw mentioned it can search an pressing assembly with Arcadia’s directors in an try to save lots of jobs and guarantee workers are handled pretty.
Usdaw nationwide officer Dave Gill mentioned: “Now that Arcadia is in administration it’s essential that the voice of workers is heard over the way forward for the enterprise and that’s finest executed via their commerce union.
“We’re searching for pressing conferences and want assurances on what efforts are being made to save lots of jobs, the plan for shops to proceed buying and selling and the funding of the pension scheme. Within the meantime we’re offering our members with the assist and recommendation they want at this very troublesome time.
“Over 200,000 retail job losses and 20,000 retailer closures this yr are completely devastating and lay naked the dimensions of the problem the business faces. Every a type of job losses is a private tragedy for the person employee and retailer closures are scarring our excessive streets and communities.
“What retail wants is a joined up technique of unions, employers and Authorities working collectively to develop a restoration plan. Usdaw has lengthy referred to as for an industrial technique for retail, as a part of our ‘Save our Retailers’ marketing campaign, to assist a sector that was already struggling earlier than the coronavirus emergency.
“There are substantial points that should be addressed likes rents, charges and taxation, to create a stage enjoying discipline between excessive streets and on-line retail. These points is not going to be resolved with ‘sticking plaster’ measures like at this time’s 24-hour opening Authorities announcement.
“Retail is essential to our city and metropolis centres, it employs round three million folks throughout the UK. The Authorities should take this critically; we want a restoration plan to get the business again on its ft.”