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Arcadia denies potential bankruptcy

19 days ago   |   By

Topshop owner Arcadia has denied a report by The Sunday Times that they are exploring bankruptcy. Sky News also reported that Arcadia was seeking 30 million pounds in loans to sustain the business as the U.K.'s second lockdown is poised to do more damage to the already struggling retailer. However, Arcadia has denied they have explored any options for actually entering administration.
“It is not true that administrators are about to be appointed,” Arcadia said in a statement. “The second UK lockdown presents a further challenge for all retailers and we are taking appropriate steps to...
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Arcadia reportedly in talks over 30 million pound loan

19 days ago   |   By

Sir Philip Green's Arcadia is reportedly seeking tens of millions of pounds in funding from lenders as it continues to grapple with the impact of Covid-19.
The group, whose portfolio includes Topshop, Burton and Dorothy Perkins, has approached several potential lenders about borrowing around 30 million pounds, Sky News reports.
Talks with a number of parties are reportedly ongoing, with a source close to one of the parties saying this weekend they think an agreement could be “close”, according to Sky.
An Arcadia spokesperson said media reports claiming the company was nearing an...
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