Arcadia is a UK based fashion group which in 2002 became part of Taveta Investments, owned by Sir Philip Green and his family. This fashion group owns popular high street brands including Topshop, Topman, Dorothy Perkins, Burton, Wallis, Evans and Miss Selfridge.
Arcadia currently operates approximately 570 standalone stores in the UK and Republic of Ireland across its various brands. The high-street fashion group acts as one of the UK's most influential in terms of style and trends.
In October 2018 Arcadia owner Sir Philip Green faced multiple personal allegations, 8 months later in June 2019 Arcadia faced administration. Arcadia then successfully won backing from landlords, enabling it to push through a restructuring plan which will see most of its stores saved. In July 2019 Arcadia began to face legal problems as US property giant Vornado challenged two of the seven Company Voluntary Agreements (CVAs).
As part of a series of CVA's agreed with creditors 23 stores have been earmarked for closure, with a further 25 Miss Selfridge and Evans stores set to close via a separate restructuring procedure. In addition, all its stores in the US will have now closed. Arcadia also announced cuts of 170 jobs at its main offices a day after the retail empire avoided collapse.