Arcadia could close as many as 200 stores as it looks to restructure its property portfolio in the next three years.
Sir Philip Green, the boss of Arcadia, which owns fashion brands including Topshop and Dorothy Perkins, told Retail Week last year that the hundreds of leases that are coming up for renewal in the next few years creates an opportunity to consolidate the presence of his brands in many towns and reduce the group’s rent bill.
About 500 leases expire over the next three years, and the Financial Times has reported that 150 to 200 shops could be shut, although the final decision has yet to be made. Arcadia, which operates the Topman and Miss Selfridge chains as well as Bhs, has about 2,400 stores.
In other reports Arcadia is said to be mulling the closure of upto 300 stores.
The retailer will look at seeking out new stores, closing some or negotiating better leases as part of its portfolio restructure.
Arcadia has already begun relocating some stores as it begins to sell brands including Burton, Wallis and Dorothy Perkins through its Bhs department stores.