Stores: Topshop Stores and Uk Stores

stores: A further 25 UK stores are set to close as Arcadia puts the property holding companies of Miss Selfridge and Evans into administration, according to The Guardian. It is also closing 11 Topshop stores in the US. The deal, which will be subject to a vote on Wednesday, also relies on reaching an agreement with the Pensions Regulator over funding of Arcadia's pension deficit, which is valued at up to 750m. The group, which operates 570 shops, must win approval from 75% of its creditors, most of whom are landlords, for a restructuring which will enable it to close at least 23 stores and cut rents by up to 70% on nearly 200 more. The regulator, which has legal powers to force Arcadia and Green to ensure its pension is properly funded, wants a further 50m on top of the 360m over three years that has been put on the table. Pima County's deputy county attorney, Lauren Deakin, said the Arcadia boss had been formally charged with four counts of knowingly touching another person with the intent to injure, insult, or provoke . Green denies the claims. Arcadia's future will be decided as Green faces a new personal battle, after being charged with four counts of misdemeanour assault in the US, after a pilates instructor alleged he repeatedly touched her inappropriately, according to authorities in Arizona. (news.financializer.com). As reported in the news.