Administrators for Sir Philip Green’s Arcadia empire are to close down its Outfit operation by the end of the month, with the loss of more than 700 jobs.
Outfit, which brings all of the tycoon’s retail brands including Topshop under one roof, has 21 sites in mostly out-of-town shopping destinations.
They employ 714 people – all currently furloughed.
It is understood that a further 10 Arcadia stores are to be shut down as leases expire.
Arcadia and Deloitte – appointed as administrators when the group collapsed in early December – declined to comment on the closures, which were first reported by The Times.
Up to now, the only part of the Arcadia empire to have been saved is the Evans brand, which was bought up just before Christmas by City Chic Collective for £23m.
However, that deal did not include its stores which, like the rest of the wider group’s store network, remain largely closed because of continuing COVID-19 restrictions.
It is widely expected that there will be news within weeks on whether efforts to find buyers for the bulk of the group’s existing operations – all currently trading online to clear stock – have been successful.
Next is among bidders for the most lucrative parts of Arcadia’s business
Sky News has revealed that Next and JD Sports are part of competing consortia for the brands, with Topshop the most valuable.
The others in Sir Philip’s stable include Dorothy Perkins, Burton and Wallis.
However, any deal is expected to result in the loss of some jobs as the new owners are unlikely to retain the group’s entire estate of around 400 stores in the current market.