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Arcadia Group
Arcadia Group Ltd (formerly Arcadia Group plc and, until 1998, Burton Group plc) was a British multinational retailing company headquartered in London, England. It was best known for being the previous parent company of British Home Stores (BHS), Burton, Dorothy Perkins, Debenhams, Evans, Miss Selfridge, Topman, Topshop, Wallis and Warehouse. At its peak, the group had more than 2,500 outlets in the UK and concessions in UK department stores and several hundred franchises operated internationally.
The company was majority owned by Taveta Investments, owned by Tina Green, wife of Sir Philip Green, chairman of the Arcadia Group.
BHS, also owned by Green, was integrated into Arcadia in 2009. In 2015 the then loss-making BHS was sold for £1 to Retail Acquisitions Ltd, owned by Dominic Chappell. In 2019, on the bankruptcy of BHS, British MP Frank Field, who previously investigated the BHS pension deficit, criticised Philip Green for paying considerable dividends to his family and to friend Richard Caring "when things are going well", and making his employees pay "when things are not going well".
In April 2019, it was reported that the Arcadia Group, controlled by the Green family, had recorded a £300m deficit in its pension fund, while the Green family had cashed out £1.2bn in dividends from Arcadia in 2005.
The Arcadia Group entered administration on 30 November 2020. By 8 February 2021 all of the brands previously owned by Arcadia had been sold off by administrators to online retailers, mainly ASOS and Boohoo, sealing the fate of the remaining bricks-and-mortar sites and thousands of jobs. Outfit, a chain of out-of-town stores encompassing multiple Arcadia clothing brands, was simply closed.
The Arcadia Group has its origins in the firm founded by 18-year-old Lithuanian immigrant Montague Burton in Chesterfield in 1903 as The Cross-Tailoring Company. Burton's initial operation, a men's clothing manufacture, tailoring and retailing operation, became the genesis for the current Burton Menswear chain, which remains part of the company, albeit having moved away from traditional tailoring to mainstream men's off-peg casuals and formalwear line with shifting trends in fashion and clothing. The eventual holding company survived as Burton Group plc until 1998 when the current name was substituted.
The firm's headquarters moved from Chesterfield to Leeds in 1910, and The Cross-Tailoring Company had changed its name to Burton by the time the First World War broke out in 1914.
The company was first listed on the London Stock Exchange in 1929, when it had 400 stores, factories, and mills. By then, the company had a large factory in Leeds.
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Arcadia Group
Arcadia Group Ltd (formerly Arcadia Group plc and, until 1998, Burton Group plc) was a British multinational retailing company headquartered in London, England. It was best known for being the previous parent company of British Home Stores (BHS), Burton, Dorothy Perkins, Debenhams, Evans, Miss Selfridge, Topman, Topshop, Wallis and Warehouse. At its peak, the group had more than 2,500 outlets in the UK and concessions in UK department stores and several hundred franchises operated internationally.
The company was majority owned by Taveta Investments, owned by Tina Green, wife of Sir Philip Green, chairman of the Arcadia Group.
BHS, also owned by Green, was integrated into Arcadia in 2009. In 2015 the then loss-making BHS was sold for £1 to Retail Acquisitions Ltd, owned by Dominic Chappell. In 2019, on the bankruptcy of BHS, British MP Frank Field, who previously investigated the BHS pension deficit, criticised Philip Green for paying considerable dividends to his family and to friend Richard Caring "when things are going well", and making his employees pay "when things are not going well".
In April 2019, it was reported that the Arcadia Group, controlled by the Green family, had recorded a £300m deficit in its pension fund, while the Green family had cashed out £1.2bn in dividends from Arcadia in 2005.
The Arcadia Group entered administration on 30 November 2020. By 8 February 2021 all of the brands previously owned by Arcadia had been sold off by administrators to online retailers, mainly ASOS and Boohoo, sealing the fate of the remaining bricks-and-mortar sites and thousands of jobs. Outfit, a chain of out-of-town stores encompassing multiple Arcadia clothing brands, was simply closed.
The Arcadia Group has its origins in the firm founded by 18-year-old Lithuanian immigrant Montague Burton in Chesterfield in 1903 as The Cross-Tailoring Company. Burton's initial operation, a men's clothing manufacture, tailoring and retailing operation, became the genesis for the current Burton Menswear chain, which remains part of the company, albeit having moved away from traditional tailoring to mainstream men's off-peg casuals and formalwear line with shifting trends in fashion and clothing. The eventual holding company survived as Burton Group plc until 1998 when the current name was substituted.
The firm's headquarters moved from Chesterfield to Leeds in 1910, and The Cross-Tailoring Company had changed its name to Burton by the time the First World War broke out in 1914.
The company was first listed on the London Stock Exchange in 1929, when it had 400 stores, factories, and mills. By then, the company had a large factory in Leeds.