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Birmingham Post
Birmingham Post
Business
Hannah Baker

Arcadia Group closes Dorothy Perkins, Burton and Miss Selfridge at Cabot Circus in Bristol

Arcadia Group has closed three large stores in Bristol city centre.

The retail group, which is owned by billionaire retail mogul Sir Philip Green, has been burdened by financial difficulties in recent months.

Burton, Dorothy Perkins and Miss Selfridge at Cabot Circus have been emptied and signs have been put up directing customers to visit other branches.

The closures are part of a controversial restructure - also known as a company voluntary agreement (CVA) - that was finally agreed by Arcadia's creditors in June.

The CVA allows rent reductions on existing stores, which also include Wallis, Topshop and Evans, and more closures.

A spokesperson for Cabot Circus told Bristol Live last month: "Following the announcement about Arcadia Group’s proposed restructuring, we can confirm that the unit with Burton, Dorothy Perkins and Miss Selfridge will be closing in August.

"We’re always looking for ways to make the mix of brands at Cabot Circus even better, and we look forward to welcoming something new to the unit soon.

Burton has shut (Hannah Baker)

"In the meantime, consumers can still shop at great fashion brands such as Bershka, &Other Stories, Zara and many more."

The signs in the store tell consumers to visit nearby House of Fraser to shop at Miss Selfridge, while the nearest Dorothy Perkins and Burton stores are inside Tesco Extra in Bradley Stoke.

The news comes as the group faces a legal challenge from one of its US creditors over the CVA agreement.

Property group Vornado is challenging two of the seven restructuring deals that were agreed as part of the CVA and has filed papers at the high court.

But Arcadia has said without the restructure it would collapse into administration and 18,000 retail jobs would be put at risk.

Ian Grabiner, the chief executive of Arcadia Group, told the Guardian: “These challenges are entirely without merit and we will vigorously defend them.

“The CVAs are a vital part of our restructuring, putting the business on a firm financial footing and enabling significant investment as part of our growth plans which will ultimately benefit all our stakeholders.

"Our group continues to trade as normal and we remain focussed on delivering our turnaround plans.”

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