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Shock but not surprise: Topshop-owner’s collapse was ‘a long time coming’

The company blamed its collapse on Covid. Analysts say otherwise. Image: Bigstock
When Arcadia Group’s chief executive Ian Grabiner announced the appointment of administrators on Monday evening UK time, he cited the impact of Covid-19, including prolonged store closures, as the leading cause of the company’s collapse.  “Throughout this immensely challenging time, our priority has been to protect jobs and preserve the financial stability of the group in the hope that we could ride out the pandemic and come out fighting on the other side,” Grabiner said in a statem