As the news breaks that Philip Green's fashion empire, Arcadia, falls into administration, we investigate whether it will affect any outstanding international orders and what it means for overseas buyers.
Arcadia is the owner of a range of UK high street fashion and clothing brands including TopShop.com, Dorothy Perkins, Evans.co.uk and Burton.co.uk . They have been trading on British high streets for many years. Burton was started in 1903, Dorothy Perkins in 1909. Philip Green purchased Arcadia in 2002, using a compnay owned by his wife Tina Green. Thye have 444 shops in the Uk and 22 overseas.
TopShop in administration
On 30 November 2020 it was announced that TopShop.com and all Arcadia brands had gone into administration. The news is that the shops will continue to trade under administration, according to Covid19 rules, and that no job losses are announced at this time. Deloitte was appointed as administrator.
“We will now work with the existing management team and broader stakeholders to assess all options available for the future of the group’s businesses,” said Matt Smith, joint administrator at Deloitte.
The CEO of Arcadia has blamed the Covid19 pandemic as the reason and expressed his sadness at the development. I canot find a comment from the ultimate owners hilip Green or his wife Tina Green, who reside in Monaco.
“This is an incredibly sad day for all of our colleagues as well as our suppliers and our many other stakeholders,” said Arcadia CEO Ian Grabiner.
Can I still order from TopShop?
TopShop is still trading and there are currently no immediate plans for that to change. So you will still be able to shop at any of Arcadia's shops, which are Burton, Dorothy Perkins, Evans, Miss Selfridge, Topman, Topshop, Wallis and Outfit, either at their stores on online at their web stores.
If you have an order outstanding then there is no reason why you won't receive your shopping. You will still be able to visit one of their stores to shop. You will still have your rights to receive your orders from any online shopping that is done while the company is in administration.
TopShop Gift Cards
It is advisable to use any gift cards for TopShop or any of the other Arcadia brands you may have. If the company is bought out of administration the new owners have no obligation to honour the cards and if the company goes into liquidation then gift card holders are nera the back of the queue for getting money back. So spend them as soon as possible.
It has been announced, 4 November 2020, that gift cards will only be honouredfor 50% of their value. So a gift card that is worth £50 will only be valid for up to £25 spend.
What is happening to TopShop international shipping?
There should also be no changes to any orders placed with international shipping and at the time of publication, you can still get free international shipping from TopShop on orders over £100.
TopShop Cyber Monday
Cyber Monday offers are still being advertised on site, including 80% off everythinga nd a £10,000 giveaway. Other Arcadia brands are also offering large discounts. These may be extended or increased in order to increase cashflow while they are in administration,so that is worth keeping an eye on.
TopShop and Arcadia Employees
Our sympathy goes out to all Arcadia group employees at this difficult time. We hope that a good buyer is found quickly and that all shops can continue to trade.
Who might buy the Arcadia Group?
There is speculation that the owners of Boohoo.com or the owners of SportsDirect.com might be in the running to take over Philips Green's failed business.