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Topshop owner Aracdia is on the brink of collapse, putting thousands of jobs at risk.
The fashion giant, owned by Sir Philip Green, has posted massive losses in recent years and has been hit hard by the pandemic.
Despite working on a number of 'contingency options' the retail empire could go into administration as early as next week, according to reports; putting up to 15,000 people at risk of redundancy.
Arcadia is the parent company of high street favourites Dorothy Perkins, Burton and Miss Selfridge.
It was reported earlier this month that the retail giant was seeking a £30m loan to help cover sales losses.
More to follow.
Featured Image Credit: PA
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