Biography: Topshop Parent Company Is Decomposing Its Brand.

On the morning of September 1st, the The Sunday Times reported that the Philip parent, the parent company of Topshop, the founder of the Arcadia group of the British fashion retail group, is relieving the various resource sharing functions of the group's brands and gradually decomposing its business to prepare for future sales, according to people familiar with the matter. "Sunday times" reported on the morning.

It is said that the head of the business decomposition is Ian Grabiner, chief executive officer of Arcadia.

But in the afternoon, Arcadia denied the report. The group said that after last week's formal completion of the Company Voluntary Agreement (CVA), similar to bankruptcy protection in the United States, the board is concentrating on reviewing all its brands and reorganizing its business. The Sunday times report is totally groundless.

At present, Arcadia owns many fashion retail brands such as high street brand Topshop, Topman, women's clothing retailer Dorothy Perkins, big size women's clothing retailer Evans, high street department store Miss Selfridge, snowboard manufacturer Burton and women's wear retailer Wallis.

In recent years, due to increased competition among peers, low consumer confidence and declining passenger traffic, Arcadia has gone back to its glory and is on the verge of bankruptcy. In April this year, in order to alleviate the financial pressure of the group, the group began to sublet 67 stores in the golden section, and hoped that other stores that could maintain operation could reduce about 30% of the rent.

In May of this year, "magnificent ambition" reported Arcadia's CVA message to owners and creditors. According to the agreement reached between the two sides, 194 of the Arcadia stores in the UK will receive rent relief in the next three years. As a condition of exchange, these owners and creditors will get a maximum of 20% of the Arcadia group. (see "ornate ambition" report: deep predicament, Topshop parent company, British Arcadia group or will abandon all international market business).

In June this year, the proposal was approved by more than 75% shop owners and creditors.

The landlords of the Arcadia American subsidiaries headed by Vornado Realty Trust and Caruso Real Estate were dissatisfied with the terms of exchange and appealed to the court. But last week, the landlords had reached an out of court settlement with Arcadia.