British Retail Empire Arcadia Falls Into Administration

People walk past an entrance to the Topshop store at the Oxford Street, in London, on July 2, 2020. Hannah McKay/File Photo/Reuters

Arcadia Group, the British retail empire that includes Topshop, has collapsed into administration, putting over 13,000 jobs at risk.

In a statement emailed to The Epoch Times late on Monday, the group said that it had called in administrators from Deloitte. This is the UK’s biggest corporate casualty of the COVID-19 pandemic so far.