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Several Irish stores earmarked for closure as part of Topshop owner restructuring plans

The Arcadia group fashion firm, owned by British mogul Philip Green, is proposing the closure of ...
Stephen McNeice
Stephen McNeice

18.47 22 May 2019


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Several Irish stores earmarked...

Several Irish stores earmarked for closure as part of Topshop owner restructuring plans

Stephen McNeice
Stephen McNeice

18.47 22 May 2019


Share this article


The Arcadia group fashion firm, owned by British mogul Philip Green, is proposing the closure of several Irish stores as part of a major restructuring effort.

The company - whose brands include Topshop and Dorothy Perkins - is set to shut 23 stores across the UK and Ireland as part of a series of company voluntary agreements (CVAs).

Those include stores in Dublin - branches of Topshop, Topman, Evans / Wallis and Miss Selfridge - as well as a Miss Selfridge store in Galway and a Dorothy Perkins / Evans outlet in Cork.

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The retail group's proposals will also see rents cut at nearly 200 of their remaining outlets.

Explaining the plan, Arcadia chief executive Ian Grabiner said: "Against a backdrop of challenging retail headwinds, changing consumer habits and ever-increasing online competition, we have seriously considered all possible strategic options to return the group to a stable financial platform.

"Following constructive discussions with all key stakeholders, we believe that a CVA is a best course of action.

"This has been a tough but necessary decision for the business."

Arcadia has faced significant financial challenges in recent months, largely as a result of a massive mounting pensions debt.

Mr Green, meanwhile, is no longer a billionaire, after his fortune halved in a year according to a recent Sunday Times Rich List.

The compilers of the list valued the Arcadia Group as "worthless".

You can see the full list of potential Irish store closures below:

  • Cork (Dorothy Perkins/Evans)
  • Dublin - St Stephen's Green (Topshop/Miss Selfridge)
  • Dublin - Jervis (Topshop Topman)
  • Dublin - Henry Street (Evans/Wallis)
  • Dublin - Liffey Valley (Wallis)
  • Galway (Miss Selfridge)

Additional reporting by IRN

Main image: File photo of Topshop store. Picture by: Yui Mok/PA Archive/PA Images

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