The owner of Topshop has begun bankruptcy proceedings
The British company Arcadia Group, belonging to the billionaire Philipus Green and owning clothing brands Topshop, Topman, Dorothy Perkins, Burton, Wallis, Miss Selfridge, Evans and Outfit, began the bankruptcy procedure, writes Reuters. Arcadia Group tried to find £ 30 million ($ 40 million) to cover losses caused by a pandemic of coronavirus infection and avoid bankruptcy, but this was not possible.