Topshop closes all of its stores in the US after its operator, Arcadia Group, filed for insolvency, according to a report. places in the country will close their doors, the Wall Street Journal reported. Topshop opened its first US store in New York in 2009 and expanded its operations to other cities including Los Angeles, Miami, Las Vegas, Houston and Chicago.
Arcadia plans to close another 23 stores in the UK and Ireland, BBC reported.
Topshop has announced the closure of all its US stores. Chief Executive Officer Ian Grybner said in a statement Wednesday that closing is a "difficult but necessary decision." retailers compete for customers [and] high levels of return on products, "said Daniel Francis Butters and Ian Collin Wormleyton, a foreign affiliate. will now focus on its digital growth, revenue and infrastructure improvements.
The Brand was Involved in Controversy in Octob In 2018, when his owner, Phillip Greene, was charged with sexual harassment, racial violence and harassment. Beyonce broke off with Green about a month later and said her Ivy Park clothes line would no longer be sold at Topshop.
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Payless ShoeSource announced it will close 2300 stores by the end of June. Discount chains Fred & Dressbarn also said earlier this month that they will close some places.