Finance

Arcadia brands set for administration within 24 hours if CVAs voted down

By 2019-06-05T05:55:00

Topshop Oxford St

Source: Shutterstock/ Chrispictures

Arcadia’s advisor Deloitte has drawn up papers to put the troubled group’s high street retail brands into administration as early as Thursday morning should its cost-cutting proposals not gain support from creditors today.

Property Week has learned Deloitte spent yesterday locked in meetings with Arcadia executives considering the likely outcomes for seven company voluntary arrangement (CVA) votes due to take place from midday today at County Hall in central London.

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