Speaking with the BBC, Sir Philip admitted that although this year had already seen the closure of 60 Arcadia outlets, further stores were at risk:
"We have got - from my memory - 450 or 460 stores where leases expire in the next three years. And I think on our latest summary we will close more than half of those on lease expiry. So I would say, I would expect us to close 250, 260.
"Now, there may be other opportunities that turn up that we might want to open. But certainly, in terms of our existing portfolio, currently that's our thinking."
Worrying news for the many Arcadia group employees for sure but does it reflect the way we shop now?
Even if your local store is closing down, you can still shop Topshop online at MyDaily store: