A threat to plans to safeguard the future of some of the high street's biggest fashion retailers has been lifted.

The Arcadia Group, which operates chains such as Topshop, Miss Selfridge, Dorothy Perkins and Burton, with branches across Kent, had been threatened with slumping into administration earlier this year - with the immediate impact of dozens of shop closures and job losses.

Creditors agreed to a series of CVAs - company voluntary arrangements - in June which allowed the company time to restructure its debts in order to survive.

However, two US landlords had launched legal challenges which threatened to derail the process and potentially topple the struggling giant over the edge.

But now, following "significant and constructive dialogue" with both, they have agreed to withdraw their challenges - allowing the CVAs to go ahead.

Ian Grabiner, CEO of Arcadia Group, said: “With these legal challenges now withdrawn all the components of the CVAs can now be implemented.

"On behalf of the board, I would like to thank all of our staff, customers and creditors for their loyal support during this tough period for retail businesses.

"We can now look forward to implementing our strategy and delivering our growth plan for the group.”

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