Headlines

Topshop to Close New York Stores

Parent company in U.K. may enter administration

Published

5 years ago

May 28, 2019

VMSD Staff

Topshop (London) will close all 11 of its New York stores after filing for bankruptcy, according to Business Insider. The retailer will continue to offer its Topshop/Topman brand online and through its wholesale partners, like Nordstrom.

Group CEO of parent company Arcadia Group Ian Grabiner said the move was a "tough but necessary decision for the business," in a statement to the press. He pointed to a challenging retail environment, changing consumer habits and increased online competition as being the reason for the changes.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design