Topshop, Miss Selfridge and Burton owner 'on brink of collapse' - what you need to know


  • Pollycat
    Pollycat Posts: 34,637 Forumite
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    I just get this message when I click on the link to 'MSE News':

    Service Unavailable

    The server is temporarily unable to service your request due to maintenance downtime or capacity problems. Please try again later.

    I've tried the link several times. It doesn't work.

    No problems at all with the rest of the website.

    This happens a lot with these threads started by MSE, maybe not this particular problem but links that just take you back to the thread instead of to the News Story or links that just don't work.

    Here is a link that does work:

  • roddydogs
    roddydogs Posts: 7,478 Forumite
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    Poor Philip, so sorry for him.
  • Pollycat
    Pollycat Posts: 34,637 Forumite
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    roddydogs said:
    Poor Philip, so sorry for him.
    I'm sure his £30,000 a night Christmas holiday will console him.
    It gets worse.
    I've heard Mike Ashley's name mentioned...

    Shocking that yet again, hard-working people are paying the price whilst rich, fat cats get richer and fatter.
    He was knighted for "services to the Retail Industry".
    It's about time it was recognised that he has done some of our favourite brands a real dis-service and about time he was stripped of his knighthood.

  • Pollycat
    Pollycat Posts: 34,637 Forumite
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    edited 1 December 2020 at 9:32AM

    Topshop, Burton and Dorothy Perkins owner Arcadia has gone into administration, putting 13,000 jobs at risk.

    The High Street giant has hired administrators from Deloitte after the pandemic "severely impacted" sales across the group.

    No redundancies would be announced immediately, it said in a statement.

    And Arcadia's stores will continue to trade as Deloitte considers all options available to the group.

    All orders made over the Black Friday weekend will also be honoured, the administrators added.

    In 2005 the company paid Lady Green a £1.2bn dividend, the foundation of the Green fortune. Now that the company has fallen on hard times, should there be a moral duty on the family to help those thrown out of work?

    Sir Philip can contemplate whether he wants to be remembered as the man who enriched his family, but left others out of pocket, or as the retail tycoon who put his staff first, even when his empire ran out of steam.

    And further consequences:

    JD Sports is expected to pull out of talks over a rescue deal for department store chain Debenhams on Tuesday.

    It was the last remaining bidder for the firm, which is in administration, and up until the end of last week had been closing in on a deal.

    But retail giant Arcadia is the biggest concession operator in Debenhams and its collapse is understood to have been a factor in JD Sports' decision.

    Without a buyer, Debenhams could be wound down, risking thousands of jobs.

    The company had already cut about 6,500 jobs since May, and now has 12,000 workers.

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