Philip Green's Topshop Empire Might Collapse in Days

There’s more bad news in what has already been a terrible year for the retail industry. Philip Green’s Arcadia Group – the owners of Topshop, Topman, Burton and Dorothy Perkins – could be going into administration as early as next week.

An industry insider told Sky News that the collapse is considered inevitable, after Green’s attempts to secure an emergency loan proved unsuccessful. This could see up to 15,000 people lose their jobs. However, the group’s online operations and any stores allowed to open during lockdown will be allowed to continue throughout the administration process.

It’s also possible that other companies might try to purchase some of Arcadia’s brands — online retailer Boohoo has already been tipped as a prospective buyer — or they could continue as solely online retailers.

Philip Green is one of the most controversial figures in British retail, having been accused of racist abuse, sexual harassment, and tax avoidance. (He strongly denies all allegations.) It may be tempting to view Arcadia going under as long overdue comeuppance but, as always, it would be the company’s workers who suffer most.