Also in the UK: Fashion commercial sector collapses
The European retail giant, the English group ARCADIA, owner of TOPSHOP, TOPMAN, MISS SELFRIDGE, DOROTHY PERKINS, WALLIS, EVANS, OUTFIT and BURTON, also one of the main fashion distributors in Europe, presented its own bankruptcy.
The decision was the result of the prolonged crisis triggered by Covid-19 that prevented the normal operation of stores in different parts of the United Kingdom and other countries, and because the efforts for a sale of the company were unsuccessful.
The measure dragged other companies, such as LLOYD SHOE COMPANY, the main supplier of footwear for various ARCADIA brands, which has also filed for bankruptcy.
While the bankruptcy administrators analyze all the options to avoid the liquidation of the group, they explore the possibilities of obtaining a buyer to ensure its continuity.
The company has 444 stores in the UK and 22 abroad, mainly in Ireland. In total, it has 13 thousand employees.
In a statement signed by Ian Grabiner, CEO of ARCADIA, stated that “the impact of the Covid-19 pandemic, which included the closure of our stores for long periods, has impacted the operation of all our brands. Our priority has been to protect jobs and preserve financial stability, however, the obstacles we faced were too harsh", he concluded.
The first is a British multinational retail chain, which also filed for bankruptcy. It operates department stores in the UK and Ireland, as well as franchised stores in other countries. The situation has put 12 thousand jobs at risk.
BONMARCHÉ, the other Yorkshire-based women's fashion chain, followed the same path by filing for bankruptcy. There are 225 stores throughout the country with 1,500 employees.
They were followed by the EDINBURGH WOOLEN MILL and PONDEN HOME group, along with PEACOCKS and JAEGER, with the same luck, although in most cases the points of sale are still open and massive layoffs of personnel have not yet been recorded.
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