Six Irish Stores Set To Close...

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Six Irish Stores Set To Close After Topshop Owner's Rescue Plan Approved

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Six Irish stores are expected to close as a result of restructuring at the Arcadia fashion group, which owns brands such as Topshop.

The UK retailer's creditors have today approved plans - known as Company Voluntary Arrangements (CVAs) - to save the company following declining sales and high rents.

23 stores across Ireland the UK will close as part of the plans, with the loss of more than 500 jobs.

Rent will also be cut at nearly 200 of the group's remaining stores.

However, the rescue plans mean the vast majority of the group's 18,000 staff will keep their jobs.

Following today's vote by creditors, Arcadia Group CEO Ian Grabiner said: "I would like to thank all of our team and advisors for their support throughout the CVA process.

"It has been incredibly challenging for all concerned but I believe this is the right outcome for all our creditors.”

The Irish stores earmarked for closure are:

  • Cork (Dorothy Perkins/Evans)
  • Dublin - St Stephen's Green (Topshop/Miss Selfridge)
  • Dublin - Jervis (Topshop Topman)
  • Dublin - Henry Street (Evans/Wallis)
  • Dublin - Liffey Valley (Wallis)
  • Galway (Miss Selfridge)

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