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Topshop owner Arcadia faces collapse within hours

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It was solely simply over a decade in the past that Sir Philip Inexperienced’s retail ambitions hit their heady top – the star-studded unveiling of a department of Prime Store in New York. Consumers queued around the block for the opening, presided over by Sir Philip, arm in arm, naturally, with mannequin Kate Moss. The launch celebration was at Balthazar’s restaurant; the visitors included Jennifer Lopez and Debbie Harry. A lot water has handed below the bridge since; not solely the general public embarrassment for Sir Philip over his choice to promote BHS, a part of his Arcadia retail empire, to Dominic Chappel, just for it to break down a yr later, but additionally the swift march of style and expertise that has left the opposite Arcadia companies – Prime Store, Wallis, Dorothy Perkins and Miss Selfridge – properly off the tempo, not solely when it comes to their retail operations but additionally their attractiveness to customers.

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