Hundreds of retail jobs in Glasgow are at risk as the owners of Topshop and Burton look set to enter administration tomorrow.
Arcadia Group, which also owns Dorothy Perkins, is understood to be on the brink of collapse and is expected to appoint Deloitte as administrators in the coming days.
And with a potential 13,000 jobs at risk across the UK, the BBC report that it is unlikely there will be a 'last minute' rescue deal for the retail empire.
Like plenty of other high street brands, Arcadia have suffered as a result of a decrease in footfall amid the pandemic and the restrictions that have been put in place in Glasgow and Scotland.
On Friday, an Arcadia spokesman told the Press Association that lockdown has had a "material impact" on trading across their businesses.
The group is also reported to have held emergency talks with lenders in a bid to secure a £30 million loan to help shore up its finances.
