Fast-fashion lovers despair: Arcadia Group, the London-based retailer and operator of the Topshop and Topman brands, filed for Chapter 15 bankruptcy in the U.S. on Wednesday. The company cited an “increasing switch from in-store to online shopping and an aggressive discounting environment as retailers compete for customers,” the Wall Street Journal reported. Arcadia plans to restructure and concentrate on digital growth, adjust rents to sustainable levels, and abandon stores that aren’t profitable. Meanwhile, the company […]
source https://therealdeal.com/2019/05/24/topshop-the-latest-casualty-in-the-war-on-brick-and-mortar-retail/
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