Arcadia’s CVA proposals have been accepted though it has been noted that whilst the group’s leading brands of Topshop and Topman have a reasonably strong chance of being returned to profit, Miss Selfridge and Dorothy Perkins, in particular, face an uphill battle as they have largely been eclipsed by more relevant competitors. The spotlight will now be on Arcadia’s management team which many are saying has been too slow to appreciate that much of its market share has been nibbled away by the likes of Boohoo, Asos and other more agile retailers with their slick digital operations. Whether the remaining 500 stores can be turned around after the first raft of closures is completed is the big question many are asking, as the £75 million investment pledged by Sir Philip Green into the stores will not go far and nor will the £60 million which has been earmarked for the retailer’s digital platforms.
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