{"id":163934,"date":"2021-01-19T13:44:19","date_gmt":"2021-01-19T13:44:19","guid":{"rendered":"https:\/\/www.theindustry.fashion\/arcadia-administrators-to-shut-31-stores-with-714-job-losse\/"},"modified":"2021-08-06T12:09:56","modified_gmt":"2021-08-06T12:09:56","slug":"arcadia-administrators-to-shut-31-stores-with-714-job-losse","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/arcadia-administrators-to-shut-31-stores-with-714-job-losse\/","title":{"rendered":"Arcadia administrators to shut 31 stores with 714 job losses"},"content":{"rendered":"
Arcadia administrators are set to permanently shut another 31 of the fashion group\u2019s stores by the end of January,<\/strong> with the loss of 714 more jobs.<\/p>\n <\/p>\n It is understood that the latest set of cuts, first reported by The Times, will result in the closure of all 21 of the group\u2019s Outfit stores.<\/strong><\/p>\n Outfit, which was acquired by Arcadia from Sears in 1999,<\/strong>\u00a0sells all of Arcadia\u2019s retail brands in out-of-town destinations for shoppers.\u00a0Arcadia and Deloitte declined to comment on the closure update.<\/p>\n The move comes a day after the deadline for rescue bids set by administrators at Deloitte.<\/strong><\/p>\n High street giant Next is said to be the favourite to land the flagship brand Topshop with a joint bid with US investor Davidson Kempner. Administrator Deloitte is said to have placed a price tag of \u00a3200m on Topshop alone.<\/p>\n It is understood that Next would take a minority stake in Topshop and run it on behalf of Davidson Kempner.<\/strong> It might be interested in acquiring some of the remaining brands itself, which include Miss Selfridge, Dorothy Perkins, Wallis and Burton, to sell via its online platform.<\/p>\n The Next bid faces competition from sports giant JD Sports, which has held talks over a joint bid with US retail giant Authentic Brands<\/strong>. While other names said to be in the frame include Boohoo, Marks & Spencer and Mike Ashley's Frasers Group.<\/p>\n Last month, administrators agreed the sale of Arcadia\u2019s plus-sized brand Evans to Australian firm City Chic Collective in a \u00a323m deal.<\/p>\n","protected":false},"excerpt":{"rendered":" Arcadia administrators are set to permanently shut another 31 of the fashion group\u2019s stores by the end of January, with the loss of 714 more jobs.<\/p>\n","protected":false},"author":11,"featured_media":155619,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10585,6,10494],"tags":[11120,10425,16566,9954,12748,12747,3683,12750,10267,9665,12749],"acf":[],"yoast_head":"\n