Britain’s Arcadia could fall into administration next week: Sky News By Reuters

© Reuters. FILE PHOTO: Signage can be seen outside a Topshop and Topman store, owned by Arcadia Group, in central London

LONDON (Reuters) – British fashion group Arcadia, which is controlled by retail businessman Philip Green, is preparing to appoint administrators from Deloitte as soon as next week, Sky News reported on Friday.

It cited one retail industry figure as saying Arcadia’s collapse had become inevitable after talks with a number of lenders about an emergency 30 million pounds ($40 million) loan ended without success.

The appointment of administrators could happen as early as Monday, it said.

Arcadia runs brands including Topshop, Topman, Dorothy Perkins and Burton and employs about 15,000.

($1 = 0.7500 pounds)

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