Topshop’s Australian arm has been placed into voluntary administration amid mounting debts, putting 760 jobs at risk.
But the future of its nine standalone stores, online business and 17 Myer concessions now hangs in the balance.
Financial restructuring firm Ferrier Hodgson has been drafted in to handle the administration process, according to The Daly Telegraph Australia.
Ferrier Hodgson administrator James Stewart said the business would operate as normal while it consults with Arcadia about supporting and rightsizing the Australian chain.
Employees will be paid
Stewart added that employees will continue to be paid by administrators during the process.
Gift cards and product returns will both continue to be honoured.
Arcadia said it was “working with administrators to find a solution.”