Arcadia Group’s administrators have announced that they will close 31 stores, resulting in 714 job losses.
Sir Philip Green’s retail empire, Arcadia Group, fell into administration at the start of December 2020. Deloitte were appointed administrators and have been receiving offers from a number of key players including Authentic Brands Group, Next, Mike Ashley’s Frasers Group and Boohoo Group to acquire Arcadia.
It is understood that of the 31 store closures, 21 of these will be Arcadia’s Outfits stores, meaning that the group’s entire Outfit portfolio will be shuttered. Outfit was acquired by Arcadia in 1999, and although it isn’t a fashion brand itself, the stores sell items from all other Arcadia brands. As of yet, it is still unclear which store locations will make up the remaining 31 closures.
The stores are expected to be closed by the end of January.
