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.
The new three-level, 140,000 square-foot location plays host to a new service concept, a new beauty and wellness experience, and a wide offering of clothing, shoes and accessories for men, women and children.
Arcadia has filed a new set of accounts at Companies House and it gives an insight into how bad trading has been at the business, with a swing to a loss last year. But it's talking up its growth focus for the future.
The heavily flagged arrival of Topshop on Asos is set to happen later this month with the Arcadia-owned brand debuting on September 30. ‘Brother’ brand Topman has been available via the online retail giant since June.
US landlord Vornado has suggested Philip Green and his Arcadia empire may have manipulated the results of a CVA vote by increasing its debt owed to suppliers, potentially undermining landlords’ power to block it.
Arcadia is moving fast following the approval of its CVA and it has said it will cut 170 jobs at its HQ. The company is “proposing to make some structural changes in order to support and deliver the turnaround plan.”