In another sign of traditional retailers' struggles, Topshop plans to close all 11 of its US stores as its parent company seeks to restructure after filing for bankruptcy protection
New York In another sign of traditional retailers' struggles, Topshop plans to close all 11 of its US stores as its parent company seeks to restructure after filing for bankruptcy protection.
Arcadia Group, the London-based owner of fast-fashion chain Topshop Topman, said it was facing"unprecedented" market conditions in the retail sector.Like other brick-and-mortar retailers, the company blamed heated online competition and shifting shopping habits for its woes. Amazon , discount retailers such as TJMaxx and new brands like Everlane have put pressure on the fast-fashion sector of retail.
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