Could this be the last we see of the once loved Topshop?

Could things get worse in 2020? Topshop lovers, we have some bad news... Topshop, one of the UK's biggest fashion retail giants, has collapsed into administration after talks of a £30 million loan failed. Owner of Topshop Sir Philip Green's, Arcadia, has appointed Deloitte to manage it is collapse therefore causing the company to go into a current administration. The question is, how long could this go on for?!

The impact of this disaster has put 444 stores and more than 13,000 jobs at risk with approximately 9,294 employees remaining on furlough. Due to loss of sales since the pandemic, Arcadia called for a cry for help to attempt to fill in the gaps of their sale losses. However, the ask for a whopping £30 million loan caused the company to come to a standstill. Ian Grabiner, CEO of Arcadia, said "Monday marks an incredibly sad day for all of our colleagues as well as our suppliers and our many other stakeholders". In good news, in a statement from administrators Deloitte, it has been confirmed that “no redundancies are being announced today as a result of the appointment and stores will continue to trade," they said. Luckily with the event of Black Friday, the administrators allowed all stores to continue to trade because of the announcement.

Alongside this, have Topshop slowly been going downhill long before the pandemic outbreak? Since 2018, Topshop have had a 4.5% drop in sales since 2018. I remember being a teenager where myself and my friends would OBSESS over their new collections of Joni jeans when high waist trousers were the biggest trend to die for. But now doesn’t it feel like Topshop has been overshadowed entirely? Numerous new brands have entered the fashion market causing Topshop’s price range to be looked down on and sadly their products have not wowed consumers as much as they did before. In the London fashion show that took place in 2017, it was noticed that Topshop’s prices on their garments were much lower failing to create that crucial high-profile online presence that other fashion week brands commence. Unlike others, Topshop has made no effort to become more sustainable which is crucial for a fashion company with the current generation. This brings back the question of were Topshop secretly collapsing over the years and has this pandemic destroyed them?

Words by Nichole Hawkins