FASHION giant Arcadia - which owns the huge Topshop store in York city centre - is reportedly set to go into administration.

Sky News says administrators from Deloitte could be appointed as soon as next week, putting 15,000 jobs at risk.

It quotes one retail industry figure as saying Arcadia's collapse had become inevitable after talks with a number of lenders about an emergency £30m loan ended without success.

Such a move would endanger the Topshop store in the Coppergate Centre/ Piccadilly, along with the Dorothy Perkins/Burtons concessions at the Tesco store in Clifton Moor.

The Press reported earlier this autumn how signs had appeared at the Topshop store, saying the premises were available to let, but the company said this was a mix-up and there were no plans to close the store.

An Arcadia spokesman said: “We are aware of the recent media speculation surrounding the future of Arcadia.

"The forced closure of our stores for sustained periods as a result of the Covid-19 pandemic has had a material impact on trading across our businesses.

"As a result, the Arcadia boards have been working on a number of contingency options to secure the future of the Group’s brands.

"The brands continue to trade and our stores will be opening again in England and ROI as soon as the Government COVID-19 restrictions are lifted next week.”