Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.The Arcadia Group, which owns British fashion brands including Topshop, Dorothy Perkins, and Miss Selfridge, has fallen into administration, Deloitte confirmed Monday night.The company's CEO said COVID-19 was to blame. The pandemic has caused Arcadia's stores to close in two national lockdowns.
"In the face of the most difficult trading conditions we have ever experienced, the obstacles we encountered were far too severe," said Ian Grabiner.. Arcadia's brands have been hit by two national lockdowns, which forced non-essential businesses, including clothing stores, to shut, alongside falling demand for footwear and formal clothing.
Its brands were squeezed between the likes of Inditex's Zara, H&M, and Primark, and online-only players ASOS and Boohoo. Mike Ashley's Frasers Group said on Monday it was interested in participating in any Arcadia sale process.
Alot of these shops shoukd use Clearpay_UK may see rise in sales clearpay used world wide.
I’m pretty sure they were struggling before COVID
Sad development
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