British Retail Brands to Continue Operating in the Middle East Despite Financial Challenges in UK

  • Date: 02-Dec-2020
  • Source: Al Bawaba
  • Sector:Retail
  • Country:uae-top-picks
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British Retail Brands to Continue Operating in the Middle East Despite Financial Challenges in UK

Kuwaiti's Alshaya Group, the franchise partner of department store Debenhams and fashion retailer Arcadia, said its stores in the Middle East will continue to operate as normal, despite the financial challenges announced by the British retailers on Tuesday.

Fashion conglomerate Arcadia, which owns popular British high street brands such as Topshop, Topman, Dorothy Perkins, Wallis, Miss Selfridge, Evans, Burton and Outfit, announced on Tuesday it is to go into administration.

Deloitte has been appointed administrator and said all Arcadia's physical stores and online platforms would remain open and supplies to its partners would continue as normal.

The accountancy firm also added that it is looking to sell Arcadia's list of popular brands. Owned by British tycoon Philip Green, the retailer operates 444 leased sites in the UK and 22 overseas, with a total of around 13,000 employees.

At the same time, British department store Debenhams also announced on Tuesday it was to start liquidating proceedings, putting at risk another 12,000 retail jobs in the UK, as the economic impact of the coronavirus (COVID-19) pandemic continues to take hold.

Debenhams operates 124 stores in the UK and is currently seeking a buyer for the 242-year-old brand as part of the formal liquidation process. “On conclusion of