Shoe firm that works with Topshop owner Arcadia lines up administrators
Topshop owner Arcadia has fallen into administration
(PA)The first supplier casualty from the collapse of Topshop owner Arcadia Group appears to have emerged, as London firm Lloyd Shoe Company lined up administrators.
Hackney-based Lloyd Shoe Co employs 243 people and operates footwear concessions within some Arcadia stores, sourcing shoe ranges.
The firm continues to trade as normal however it has filed a notice to appoint an administrator, FRP Advisory, to seek a buyer for the business.
Sir Philip Green’s Arcadia, behind chains such as Dorothy Perkins, has been hammered by lockdowns this year and fell into administration earlier this week, putting 13000 jobs at risk.
Arcadia has about 444 leased stores in the UK and 22 overseas. Arcadia stores continue to trade.
Ian Grabiner, chief executive of Arcadia said earlier this week: “The impact of the Covid-19 pandemic including the forced closure of our stores for prolonged periods has severely impacted on trading across all of our brands. "
He added: "Throughout this immensely challenging time our priority has been to protect jobs and preserve the financial stability of the group in the hope that we could ride out the pandemic and come out fighting on the other side. Ultimately, however, in the face of the most difficult trading conditions we have ever experienced, the obstacles we encountered were far too severe.”
The company did not comment today about Lloyd Shoe Company’s news.
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