Arcadia orders shop tenants out

Arcadia has told other retailers temporarily occupying stores left vacant as a result of the BrandMAX programme to get out within weeks.

The exact number of retailers and stores affected is unknown, but it is understood that Arcadia intends to sell from more shops in the run-up to Christmas.

An Arcadia insider said the initiative was driven by opportunity and did not indicate any issues of excess stock. Letters were sent to the retailers concerned by Arcadia's property arm, Redcastle.

- Philip Green was thought to be close to winning sufficient shareholder acceptances to take control of Arcadia as Retail Week went to press.