Topshop and Topman owner Arcadia announces 500 job losses

Topshop, Topman and Dorothy Perkins owner Arcadia has announced plans to cut 500 jobs after it was hit hard by the coronavirus lockdown.

Philip Green’s firm said the roles will be lost from its 2,500-strong head office workforce.

Staff were informed today and told the business was being restructured in the wake of Covid-19, the Mirror reports.

Arcadia said the cuts were essential to ensure it operated as efficiently as possible in “very challenging times”.

It said: “Due to the impact of Covid-19 on our business including the closure for over three months of all our stores and head offices, we have today informed staff of the need to restructure our head offices.”

Arcadia furloughed 14,500 of its 16,000 employees during lockdown.

But the fashion group was struggling long before the pandemic reached the UK and had to be rescued last June after it was on the brink of collapse.

Creditors backed a rescue plan that involved the closure of 50 stores, 1,000 job losses and rent cuts of up to 70%.

The majority of branches hit were Topshop, Dorothy Perkins, Burton and Miss Selfridge stores.

The Chancellor has now been urged to implement new measures to support the stores that have been closed.

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