With discreet exclusivity at the heart of its luxury operations, a data breach will have come as a big blow to jeweller Graff. The firm has been attacked by ransomware gang Conti, stealing 69,000 confidential documents.
The Arcadia administrators have reportedly put a price of around £200 million on its star chain Topshop, with attempts to get a deal signed pre-Christmas. That could mean initial bids being filed within the next week.
Arcadia is now operating in administration with speculation that Boohoo, Frasers, Next and M&S would be interested in buying parts of it. There are also fears over the knock-on effect on its suppliers.
Giant fashion group Arcadia is believed to be on the verge of the worst UK corporate collapse of the Covid crisis, with the firm expected to go into administration as early as Monday. This would put 13,000 jobs at risk.
It's believed that Arcadia could need to close many more stores than it had planned to as the coronavirus crisis continues to crush UK fashion retail. Its 2019 CVAs included clauses allowing extra closures to happen.
Topshop/Topman is set to lose its CEO in the latest blow to parent company Arcadia. Former Burberry exec Paul Price resigned this week for personal reasons, the company said. Price is relocating back to the US.