Turmoil

---

Sir Philip Green , the Arcadia Group is the grace period, the landlord is out of the way More Than 100 branches by The End of summer to go.

The Fashion group also owns brands such as Topshop and Dorothy Perkins and has over 550 stores in the UK, but all are closed due to coronavirus restrictions.

Arcadia was fight, before the pandemic.

In the year 2019, it has cut a deal to survive, with landlords, rent and closing 23 stores and 12 more closed this year.

Like other retailers and empty shopping fight with the consequences of people's roads and a slump in the sales, Sir Philip's retail empire was thrown into Turmoil .

Sir Philip Green 's retail empire, Arcadia, had closed earlier in this year, some of the pages are paid after tough Christmas business

Most of its 16,000 employees by the government holiday, the Schema and the bosses taking a pay cut.

But the coronavirus crisis is the acceleration of a potentially dramatic contraction of the economy.

Arcadia has already expired closing stores over The Years , as the Leasing contracts.

Last June, the rescue deal known as a company voluntary agreement, but also a lot of break clauses in the lease agreements, the it Arcadia hand to allow the key back on relatively short notice.

A Number of other leases are Coming Up for renewal.

The Bbc understands that the Arcadia has a rule of three months notice period to a minimum of 100 rental contracts, and potentially it could be significantly higher than the.

But it does not mean that all of the affected branches will be closed.

the New agreements reached with some property owners, the need to swallow, would further reductions could be.

Other retailers also, the assessment of the store portfolio.

Debenhams downsizing

Debenhams said on Friday that seven of its shops would not open.

It is to try to protect new contracts with landlords belong to a five-month rent and service charge holiday.

The Department Store chain has agreed terms to 120 of its 142 stores So Far and is in advanced talks over the Rest of your estate. The company is in administration for the protection against creditors during the blockage.

Arcadia move, the flexibility in the buying companies in the midst of the great uncertainty about the economic landscape.

High street retailers are all trying to hoard money and lowers are worried about cost, about the trading, as soon as the restrictions are eased are.

"I'm not the fault of him [Sir Philip]. You have to do what you have to do to protect the economy," said the landlord.

Arcadia, declined to comment.

retailing, uk high streets, sir philip green, arcadia group

Source of news: bbc.com