Arcadia’s 550 stores are facing permanent closure as Philip Green’s retail empire is expected to enter administration within hours.
The retail group’s woes are also threatening to derail the rescue of Debenhams.
Pressure is building on Green to plug the Arcadia’s estimated £350m pension deficit. The business behind Topshop, Miss Selfridge and Dorothy Perkins could appoint administrators as soon as today.
Sports Direct boss Mike Ashley is urging Arcadia to accept a £50m emergency loan from Frasers Group.
Meanwhile Arcadia’s potential collapse has spooked JD Sports, which concluded exclusive talks over a takeover of Debenhams last week. Arcadia is Debenhams’ biggest concession holder, accounting for 5% of the chain’s revenues. It is understood that JD Sports will not make a decision on the deal before Arcadia files for administration.
