The British fashion group Arcadia has fallen into administration, leaving 13,000 jobs at risk. Arcadia’s market share slumped from around 4.5% in 2015, to 2.7% in 2020. The group’s extensive portfolio of high street stores, which includes British high street staples like Dorothy Perkins, Burton, and Miss Selfridge, has long felt outdated.
Arcadia’s hold on the high street has waned over the years with dozens of outlets closing nationwide. Many industry experts and past employees lay the blame at owner Philip Green’s feet, citing lack of investment in online retailing and outdated ways of sourcing product.
Topshop, a stalwart of teen and 20-something fashion, and the jewel in the Arcadia crown, has become the latest fatality of this crumbling empire and undoubtedly the one that has tipped it into administration.
The legacy of the Topshop women’s fashion chain started in Sheffield and London in 1964, in the basements of the … Read the rest...