Arcadia will continue to close stores this financial year as leases expire following 60 closures in 2011-2012.
The owner of Topshop, Bhs and Dorothy Perkins, among others, said landlords were more willing to offer better terms when faced with the prospect of being left with empty properties. Arcadia had originally warned landlords it could close 260 outlets if they did not renegotiate leases. The retail group bounced back into profit of £104m after booking a charge last year as a provision for potential store closures.
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Daily Telegraph B3
