London | Sir Philip Green's Arcadia Group, which owns well-known British fashion chains like Topshop, is poised to seek protection from creditors as soon as Monday (Tuesday AEDT) and become the most notable UK retail insolvency since the beginning of the coronavirus pandemic.

The owner of brands including Topshop and Topman saw its sales decimated by forced store closures and, over the weekend, stepped up plans to file for administration, according to sources familiar with the matter. Arcadia's filing could put 13,000 jobs and 500 stores at risk.

Bloomberg