Ireland: Irish jobs at risk as Philip Green's Arcadia Group to close ten shops in Dublin, Cork and Galway - PressFrom - United Kingdom
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IrelandIrish jobs at risk as Philip Green's Arcadia Group to close ten shops in Dublin, Cork and Galway

11:55  13 june  2019
11:55  13 june  2019 Source:   msn.com

Irish Topshop closures confirmed in the wake of Arcadia rescue plan

Irish Topshop closures confirmed in the wake of Arcadia rescue plan The closure of several Topshop, Topman, Miss Selfridge, Evans and Wallis stores in Ireland has been confirmed following the approval of parent company Arcadia Group’s company voluntary arrangements (CVA) by its creditors. 

Sir Philip ' s wife, Lady Tina Green , who is the main Arcadia shareholder, will invest £50million of her own money to make up for rental cuts. The tycoon' s retail group currently has 1,170 shops in 36 different countries. There are 566 Arcadia stores in the UK and Ireland, many of which are franchises

Restructuring of Green ’ s Arcadia group will see loss of 520 jobs across UK and Ireland. Philip Green ’ s make-or-break plan to restructure his Arcadia fashion empire would see the closure of six The full list of Irish stores to be closed is as follows: - Cork (Dorothy Perkins and Evans) - Dublin , St

Irish jobs at risk as Philip Green's Arcadia Group to close ten shops in Dublin, Cork and Galway © Provided by Trinity Mirror Shared Services Limited Topshop, Dorothy Perkins & Miss Selfridge stores and jobs 'at risk'

Ten shops in three Irish cities are set to close their doors, putting dozens of jobs at risk.

The retailers, which are part of tycoon Philip Green's Arcadia Group and include Topshop, Wallis and Miss Selfridge outlets, will shut as part of a restructuring plan.

Arcadia, which has about 570 stores, as well as hundreds more branded concessions, instigated seven Company Voluntary Arrangements (CVAs) in relation to certain Group companies in a bid to save itself from administration.

There were fears the company could collapse but a rescue deal was put in place on Wednesday.

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DISGRACED retail mogul Philip Green ’ s Arcadia Group has confirmed plans to shut 23 stores, putting 520 jobs at risk . And, in a list released today, six Scottish stores are earmarked for closure , meaning that popular fashion brands such as Dorothy Perkins, Burton, Topshop and Topman will disappear

Philip Green , whose retail empire faces a make-or-break vote on its future on Wednesday as it seeks approval for its restructuring plans, deciding the fate Creditors will decide the fate of Philip Green ’ s Arcadia group and its 18,000 workers at a vote on Wednesday on a sweetened restructuring plan to

The company had asked for a reduction in rents and revised lease terms across 194 locations, Mirror.co.uk reports.

Irish jobs at risk as Philip Green's Arcadia Group to close ten shops in Dublin, Cork and Galway © PA Sir Philip Green

A total of 23 stores in the UK and Ireland had already been earmarked to close, with over 520 jobs at risk, along with another 11 Topshop and Topman stores in the US.

An additional 25 Miss Selfridge and Evans stores were also on the list to be cut.

Dublin will see its flagship Topshop and Miss Selfridge stores on Stephen's Green close, along with the recently revamped Topshop and Topman in Jervis Shopping Centre.

Evans and Wallis on Henry Street and Evans in Liffey Valley are also on the chopping board.

Cork will lose Dorothy Perkins and Wallis outlets but Topshop on Opera Lane and Miss Selfridge in Mahon Point have been saved.

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Arcadia Group Ltd. (formerly Arcadia Group plc and Burton Group plc) is a British multinational retailing company headquartered in London, United Philip Green has been involved in a number of controversies during his career, including the payment of generous dividends to Richard Caring, Tom

For jobs in Ireland do your Job Search on Jobsearch.ie, a leading Irish jobs site. Select a job location Antrim Armagh Cavan Carlow Clare Cork Derry/Londonderry Donegal Down Dublin Fermanagh Galway Kerry Kildare Kilkenny Laois Leitrim Limerick Longford Louth Mayo Meath

Meanwhile, Galway will lose its Miss Selfridge store but retain a Topshop.

The news follows a tough time for the high street, with L.K. Bennett entering administration earlier this month, while Irish designer Orla Kiely closed five retail stores as the fashion brand went into liquidation last year.

Meanwhile, department store House of Fraser, which stocks the L.K. Bennett brand, went into administration last year before being bought out by Sports Direct tycoon Mike Ashley.

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