The future of 18,000 jobs at Arcadia Group will be decided today when landlords meet to vote on the firm's restructuring plans.
Sir Philip Green's Arcadia - the group behind Topshop, Wallis, Burton and Outfit, among other brands - is holding a meeting to vote on seven different company voluntary arrangement (CVA ) proposals.
CVA's are used by struggling businesses to reduce costs and often to close stores.
Arcadia has already held one CVA meeting but it was adjourned after several landlords said they intended to oppose the plans, which include 23 store closures.
Since then another 25 Miss Selfridge and Evans stores have also been earmarked for closure as part of a restructuring process that is separate to the CVAs.
Sir Philip has attempted to appease the landlords by offering them less severe rent cuts than first planned.
Under the initial proposals, shop owners were facing rent reductions of between 30% and 70%. This will now be reduced to a range of 25% to 50%.
Speaking to the Press Association, one landlord said the Arcadia CVA plans are different to previous ones from House of Fraser or Debenhams because the smaller units would be easier to fill with new occupiers.
"There was some sympathy for Debenhams," he said.
"Whereas here you've got a bigger pool of potential tenants. You've got more options so it's easier to vote against it."
"Not that many people are that emotional about it. There's no tears for Philip Green."
It is understood that shopping centre giant Intu was opposing the restructuring plans. Intu owns the Trafford Centre in Manchester, the Lakeside in Essex, and the Metrocentre in Gateshead.
The company's decision means that the CVA vote is like to be extremely close.
In the Commons on Tuesday, Business Minister Kelly Tolhurst, answering a question from Labour's Jenny Chapman, said: "We stand ready to do what we can along with my colleagues in MHCLG (Ministry of Housing, Communities and Local Government) if closures occur.
"We are working with the Retail Sector Council and we're committed to making sure we are working with the retail sector and high streets to make sure we can really truly grow our high streets and protect retail for the future."
The 23 stores that have been earmarked for closure are:
- Aberdeen – Dorothy Perkins, Burton
- Ashton under Lyne – Topshop, Topman
- Bedford – Topshop, Topman
- Bluewater – Miss Selfridge
- Cheshunt – Outfit
- Cork – Dorothy Perkins, Evans
- Dublin – Evans, Wallis (Henry Street)
- Dublin – Topshop, Miss Selfridge (St Stephen’s Green)
- Dublin – Topshop, Topman (Jervis)
- Dublin – Wallis (Liffey Valley)
- Fareham – Topshop, Topman
- Galway – Miss Selfridge
- Glasgow – Burton, Topman (Buchanan Street)
- Luton – Topshop, Topman
- Newcastle upon Tyne – Outfit (Northumberland Street)
- Nuneaton – Topshop, Topman
- Reading – Dorothy Perkins, Burton
- Salisbury – Topshop, Topman
- Southend – Miss Selfridge
- Stirling – Dorothy Perkins, Burton
- Swindon – Dorothy Perkins, Burton
- Swindon – Miss Selfridge, Wallis, Evans
- York – Dorothy Perkins, Burton
