With the high street seeming to be on a permanent roller-coaster and Arcadia preparing to launch a CVA within the next 48 hours, Retail Week has informed us:
Sir Philip Green’s fashion group is understood to have been encouraged by the response of property owners following crunch talks over the last few weeks.
Sources close to the business said “most” major landlords had been “really supportive” of Arcadia’s proposed plan, which would include the closure of 57 stores across its Topshop, Burton, Miss Selfridge, Dorothy Perkins, Evans and Wallis fascias.
However, Arcadia and its advisers Deloitte have been struggling to garner similar support from the Pension Protection Fund. It is understood the two parties remain locked in discussions over the proposals.
With worrying times on the high street and Land-Lords charging ridiculous rates, isn’t it time that businesses came together with a true mission to save the High Street. Surely… it’s about time they started to communicate and reach out to consumers on the High Street and find out what people really do want and need.