Top Shop owner Phillip Green is planning to close eight stores around Ireland including women’s fashion retail outlet Miss Selfridge in Galway.
The closures are part of a major corporate restructuring plan to try and keep the fashion empire afloat that includes shuttering 23 stores throughout Ireland and the UK.
The Irish Times reports that Phillip Green’s company Arcadia, owner of Top Shop, Dorothy Perkins, Miss Selfridge, Evans, and Wallis retail brands has been negotiating with its landlord and creditors for several months to try and reach a better deal.
It’s reported that this deal will see the loss of 520 jobs throughout Ireland and the UK.
Among the losses in this deal are the flagship Irish Top Shop outlet in Ireland at St. Stephen’s Green and all 11 branches of the fashion retailer in the US.
A further 194 stores remaining open will see reductions in their rent.
All stores will continue to trade as normal until June 5 when the plan will be brought to creditors for approval.
The full lost of planned closures reported includes:
- Topshop and Miss Selfridge (St. Stephen’s Green)
- Topshop and Topman (Jervis Shopping Centre, Dublin)
- Evans and Wallis (Henry Street, Dublin)
- Wallis (Liffey Valley, Dublin)
- Miss Selfridge (Galway)
- Dorothy Perkins & Evans (Cork)