Philip Green's Arcadia to close UK stores, review U.S. in restructuring
Share:
LONDON (Reuters) - British retail tycoon Philip Green's Arcadia Group said on Wednesday it planned to close 23 of its 566 stores in the UK and Ireland in a major restructuring of the fashion business that could also see its Topshop/Topman stores close in the U.S..Arcadia, which also runs fashion retailers Wallis, Miss Selfridge, Dorothy Perkins, Evans, Burton and Outfit, said it had instigated seven Company Voluntary Arrangements (CVAs), mechanisms that allow the business to avoid insolvency. A..