Topshop Oxford Street

The building housing Topshop’s flagship store on Oxford Street is up for sale, several UK media outlets have reported.

Arcadia, the High Street chain’s owner, filed for bankruptcy last November, placing 13,000 jobs at risk. The company also owns Miss Selfridge and Dorothy Perkins

First opened in 1994, Topshop’s popular Oxford Street flagship store made waves in the retail industry for being decked out with a DJ booth, nail bar and food stalls.

214 Oxford Street, the store’s address, is officially on the market following the failure of Sir Philip Green’s retail empire to secure funding to pay its debts after sales plummeted during the pandemic.

Arcadia has said that despite going into administration, with a view of all assets to be sold, this does not mean the shops in the building would have to close.

Since the start of the pandemic, Arcadia had already closed other Topshop stores across the UK over poor sales.

Traditional brick and mortar stores, with Topshop no exception, had already been struggling over competition with online retail platforms such as Asos, Boohoo and Pretty Little Thing.

Main image: Topshop, Oxford Street / tomann-hanry.co.uk

Related

Spain to end ‘golden visa’ scheme over property market impacts

April 9, 2024
by Anthea Cachia

While countries are slowly banning the practice, Malta remains firm in keeping the scheme alive

Xiaomi electric vehicles delivery might be delayed by four to seven months

April 1, 2024
by Anthea Cachia

The company introduced a special version of its new model and gifted fridges as part of its campaign

EU company sells futuristic ‘AirCar’ licence to Chinese firm

March 28, 2024
by Anthea Cachia

The car is powered by a BMW engine and makes use of normal fuel