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Jul 16, 2021 · The collapse of Sir Philip Green’s Arcadia Group empire is entering its final stages, as an auditing firm is reportedly set to liquidate the remnants of the business over the next year.
Nov 30, 2020 · Fears over Arcadia's suppliers. If Arcadia collapses, then hundreds of small businesses in its supply chain will suffer.. Invoice insurance business Nimbla estimates that Arcadia’s suppliers ...
Jul 14, 2021 · 14th July 2021. Elias Jahshan. Fashion. // Auditing firm Mazars brought in to liquidate remains of Sir Philip Green’s collapsed Arcadia Group empire. // The liquidation process could take a...
Dec 2, 2020 · Arcadia Group said the full closure of its Irish operations would be complete by late 2020 or early 2021. March 2019: Green was exploring a CVA to restructure Arcadia Group, which could...
- What Went Wrong?
- The Evolving UK Fashion Market
- Bricks and Mortar Restraint
- Changing Consumer Demands
- Fast Fashion, Price and Sustainability
- Lack of Omnichannel Strategy
- Conclusion
Described as “more of a yesterday’s man than he is a tomorrow’s man”, it could be said that the criticism levelled at Sir Phillip Green in 2015has now (with the recent failure of Arcadia) proven to have some substance. Falling into administration in November 2020, Arcadia had been struggling to keep pace against newer, online-only fashion retailers...
The UK fashion market is well-known for its dynamic and fast-paced nature, with trends, styles and fits rapidly changing. With the most advanced ecommerce market in Europe, the graph below illustrates the growth in ecommerce sales pre-COVID-19. The UK’s ecommerce revenue in 2018 amounted to £688.4 billion, which was a sharp increase on 2017. The Of...
Traditional high-street retailers suffer from rising business costs, inflating wage bills and long-term, sometimes unsustainable lease agreements. This, coupled with the decline of high streets in general, reduced overall footfall. Add to that, almost ten years of austerity has put real pressure on retailers operating from physical locations. Stock...
Even pre-COVID-19, throughout the last decade consumers have become more curious, demanding and impatient. Thanks heavily to the emergence of smart mobile devices, we’ve seen a general paradigm shift towards online shopping. The recent effects of a pandemic, with consumers spending a large part of 2020 in lockdown, have simply accelerated a consume...
In recent years, fast fashion competition has heated up drastically. Brands such as Bohoo have managed to offer dirt-cheap fashion, whilst remaining on-trend, reacting to changing fashion requirements almost instantly. This ability to turn around new collections and styles at pace - coupled with other benefits associated with being an ecommerce bus...
With the growth of fast fashion, the age of Instagram and changing consumer behaviour, the acceleration of digital commerce and prominence of social commerce are channels that businesses can ill-afford to overlook. Once at the forefront of innovation in retail, Arcadia failed to embrace an omnichannel approach across their full portfolio of brands....
Ultimately, an evolving market, increased competition, a lack of omnichannel strategy and changing consumer demands all played their part in the fall of Arcadia, but it was COVID-19 which fired the final nail into the coffin of the retail giant. The digital landscape was not an enemy of the Arcadia group. A failure to innovate and show creativity i...
Nov 30, 2020 · FTSE 100 posts best month since 1989. Despite a late wobble, Britain’s stock market has racked up its best monthly gains in over three decades.
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Feb 19, 2021 · February 19, 2021 at 10:18 AM PST. Listen. 2:15. This article is for subscribers only. Philip Green ’s retail empire Arcadia Group collapsed owing about 800 million pounds ($1.1 billion) to...
