Sir Philip Green is planning to close Miss Selfridge’s main branch on Oxford Street in London as part of a restructuring of his retail empire.
Despite being one of the chain’s few profitable stores, the branch will shut in July as Sir Philip’s Arcadia Group, which also includes Topshop, Dorothy Perkins, Wallis, Evans and Burton, seeks a company voluntary arrangement, set to be approved on June 5.
A CVA is a form of insolvency that allows distressed businesses to cut debt and close shops or rent them for less.
