- Robyn Turk
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Topshop might be leaving the United States. The BBC reported
earlier today that Arcadia Group chairman Philip Green has proposed a
restructuring plan that entails the closure of numerous Topshop and
Topman locations, including all 11 U.S. stores.
Topshop first entered the American market ten years ago with a
brick-and-mortar store in New York. Its 11 U.S. properties are spread
out across the nation, in cities including Miami, Houston, Chicago,
LA, San Diego and Washington, D.C.
If the store closures do go through, Topshop and Topman products
would continue to be available to American consumers online and
through its U.S. wholesale network, Business Insider reported.
Green’s proposal includes the closure of 194 Arcadia Group stores
in total; 23 of which would be European Topshop locations, as well as
Miss Selfridge, Dorothy Perkins, Burton and Wallis stores.
The Arcadia Group has struggled with sales declines over the past
few years. The company shuttered 200 stores in the UK over the past
three years. This proposal is considered a final effort to prevent the
company from going into administration.
