Retail giant Arcadia Group, which owns high street stores including TopShop, Dorothy Perkins and Miss Selfridges, has spoken out about media reports suggesting the company is on the brink of collapse putting 15,000 jobs at risk.  

Sky News reported that the retail empire, owned by controversial businessman Sir Phillip Green could appoint administrators as early as Monday.  

In a desperate year for the UK retail sector Arcadia Group would be the biggest high street casualty of the pandemic, having already made 500 head office job cuts earlier this year.  

The company admitted the forced closure of stores as a result of the COVID-19 pandemic has had a “material impact on trading.” “We are aware of the recent media speculation surrounding the future of Arcadia,” An Arcadia spokesperson said.  

“The forced closure of our stores for sustained periods as a result of the COVID-19 pandemic has had a material impact on trading across our businesses.  

“As a result, the Arcadia boards have been working on a number of contingency options to secure the future of the Group’s brands.  

“The brands continue to trade and our stores will be opening again in England and ROI as soon as the Government COVID-19 restrictions are lifted next week.”