Arcadia could be set to close a further 100 stores as leases on the units run out in late 2020. This would follow 200 store closures since 2016.
Many of the leases were signed in the 90’s and cover all of the company’s brands, including Topshop/Topman, Miss Selfridge, Dorothy Perkins, Wallis, Burton and Evans.
Retailers such as New Look, Debenhams and House of Fraser are also locked into negotiations with landlords.
Some of the locations being looked at by Arcadia have leases that expire in 2019 and 2020. This doesn’t necessarily mean that the stores will close, as an Arcadia property spokesman told The Mail on Sunday that there is still a ‘significant’ opportunity to review leases as contracts end. This would more than likely mean that the retailer would be looking for significant rent reductions at some sites.
