Arcadia, the troubled Top Shop-to-Miss Selfridge clothing chain, yesterday took drastic action to improve its fortunes by axing almost a quarter of its trading sites with the loss of 3,500 jobs.In the shake-up, dubbed BrandMAX by John Hoerner, chief executive, Arcadia is closing 400 stores, at an estimated cost of £90m, including the whole of its 99-store Principles for Men chain.

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