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Topshop Has Entered Administration, But How Did It Come To This?

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Arcadia was saved from administration after a company voluntary arrangement (CVA) agreed to Green’s proposed rent cuts - up to 50 per cent less - plus 23 store closures and 520 job losses.

Then the pandemic arrived, creating an even greater sales crisis, and yesterday, 30 November, Topshop entered administration, putting 13,000 jobs at risk.

The fall of Topshop is now unarguable, but how did it come to this? "The market place has changed forever - people want a different kind of service,” Green told the BBC after the CVA deal was agreed in 2019. “Should we have seen that three or four years ago?

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