Arcadia, the retail group owned by Sir Philip Green, has recently disclosed that it had debts totaling £750 million at the time of its collapse. This figure could potentially increase as the group’s administrator, Deloitte, continues to evaluate the financial situation. The majority of the debt is attributed to two flagship brands, Topshop and Topman, which have gross liabilities surpassing £550 million. Another brand under the Arcadia umbrella, Outfit, also owes £80 million.

Among the affected parties, overseas suppliers and property owners have suffered the most, with Topshop and Topman owing them a total of £82.2 million. Several companies are individually owed between £1 million and £3 million. This includes major property giants such as Savills and Unibail-Rodamco-Westfield.

Unfortunately, the impact on Arcadia’s pension scheme, which covers around 9,000 members, is not yet known. Neither is the amount owed to HM Revenue & Customs, including unpaid VAT. The report also does not include debts owed to companies owned by Sir Philip and his family.

Since last month, Deloitte has been appointed as Arcadia’s administrator and has been diligently gathering information to update creditors, including landlords and suppliers.

In other related news, online fashion retailer Asos is currently engaged in exclusive talks to acquire several brands under Arcadia, including Topshop, Topman, Miss Selfridge, and HIIT. However, Asos has no interest in acquiring any physical stores, which puts the majority of Arcadia’s workforce, consisting of 13,000 employees, at risk. Deloitte has already initiated the process of winding down the stores, and it is expected that more closures will occur by the end of this month.

For more information on Arcadia’s debts and potential acquisitions, you can visit the following links:
1. Example Link 1
2. Example Link 2