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Topshop owner Arcadia group avoids collapse

ByKatie May Nelson

Sir Philip Green's Arcadia retail empire has been saved from administration.

The retail giant, which owns stores including Topshop, Miss Selfridge, Dorothy Perkins and Burton faced a vote on re-structuring plans.

The group needed to win 75% of votes among its creditors to be successful.

Topshop was one of the stores at risk of closure (12206169)
Topshop was one of the stores at risk of closure (12206169)

The prospect of administration threatened the closure of 50 shops across the country and the loss of 18,000 jobs.

The company has Topshop stores in Bluewater, Canterbury's Whitfriars centre, in Maidstone's Fremlin Walk, Tunbridge Well's Royal Victoria Place and Westwood Cross in Broadstairs.

It also has concessions in Folkestone's Debenhams and House of Fraser in Bluewater.

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