The closures are thought to include 21 Outfit stores

The closures are thought to include 21 Outfit stores

British retail tycoon Phillip Green's Arcadia Group is understood to be shutting a further 31 stores by the end of the month, in a move that could result in more than 700 job losses.

The cuts are said to include 21 of Arcadia's Outfit stores and come just over a month after the retail giant collapsed into administration, putting 13,000 jobs at risk. Administrators said the impact of the Covid-19 pandemic, including the forced closure of our stores for prolonged periods, had severely impacted trading across all of the brands.

It is not known which other fascias will be affected by the closures reported today (20 January).

Arcadia operates from about 444 leased sites in the UK and 22 overseas, and employs around 13,000 people. A total of 9,294 workers were on furlough at the time of the joint administrators' appointment in early December.

Topshop, Topman, Dorothy Perkins, Burton, Evans, Wallis, Outfit, and Miss Selfridge are all brands that fall under the Arcadia Group banner.

A spokesperson for Arcadia declined to comment on the reports.

In late December, Australia's City Chic Collective inked a deal to purchase the Evans brand for GBP23.1m (US$30.7m), not including the retailer's bricks and mortar store network.

The deadline administrators Deloitte set for bids ended yesterday (19 January), with a deal expected to be completed by the end of the month. Those reported to have placed bids to acquire the retail empire include UK retailer Next Plc, JD Sports with Authentic Brands, and Boohoo Group.