Retail

Arcadia wants to "substantially" cut store estate

By and 2018-11-20T13:31:00

eagles meadow shopping centre

Sir Philip Green wants to reduce the size of his Arcadia fashion empire “substantially”, but the time until lease expiry on many stores is impeding progress, Property Week can reveal.

Senior industry figures suggested Arcadia was looking to shut around a third of its 500 leased UK shops, but would only be able to do so as leases expire.

While a source familiar with Sir Philip’s plans insisted the number of stores earmarked for closure had not been set and that there was no set timeframe for the closures, he confirmed that Sir Philip “would love to reduce the size of all the chains substantially”.

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Try Property Week For Free to finish this article.

Sign up now for the following benefits:

  • Unlimited access to Property Week
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article TRY FOR FREE NOW

Don’t want full access? REGISTER NOW to read this article and up to 3 more this month and subscribe to our newsletters.

Registered users and subscribers SIGN IN here to continue