Arcadia Group, which owns multiple brands like Topshop and Topman has announced it plans to close a number of its stores around the UK as part of a rescue plan.
Arcadia Group is owned by Sir Phillip Green and in total comprises eight brands including seven here in the UK.
They are Burton, Dorothy Perkins, Evans, Miss Selfridge, Topshop, Topman and Wallis. It also owns Outfit.
The retail group's proposals will also see rent cut at another 194 outlets.
All of the retailer's 11 Topman and Topshop stores in the US are also set to close.
As part of the plan, Lady Green, wife of Sir Philip and ultimate owner of Arcadia, has offered landlords a 20% stake of any proceeds if the group is eventually sold.
Lady Green will also inject £50 million of equity into the business, on top of £50 million she had already loaned the company.
Arcadia directors will meet creditors at meetings on June 5 to seek approval for the proposals.
Arcadia chief executive Ian Grabiner said: "Against a backdrop of challenging retail headwinds, changing consumer habits and ever-increasing online competition, we have seriously considered all possible strategic options to return the group to a stable financial platform.
"This has been a tough but necessary decision for the business.
"We will ensure all potentially affected colleagues are kept fully informed as we seek approval from our creditors on today's CVA (Company Voluntary Arrangements) proposals."
This will put over 500 jobs at risk.
The stores in Manchester which could be closing its doors are the Topshop and Topman in Ashton Under Lyne .
Full list:
| City | Store |
|---|---|
| Aberdeen | Dorothy Perkins, Burton |
| Ashton under Lyne | Topshop, Topman |
| Bedford | Topshop, Topman |
| Bluewater | Miss Selfridge |
| Cheshunt | Outfit |
| Cork | Dorothy Perkins, Evans |
| Dublin | Evans, Wallis |
| Dublin | Topshop, Miss Selfridge |
| Dublin | Topshop, Topman |
| Dublin | Wallis |
| Fareham | Topshop, Topman |
| Galway | Miss Selfridge |
| Glasgow | Burton, Topman |
| Luton | Topshop, Topman |
| Newcastle upon Tyne | Outfit |
| 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 |
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