Arcadia, which employed 13,000 staff in 500 outlets when it collapsed, up for auction

A consortium that includes high street giant Next is thought to be in pole position to buy Sir Philip Green’s Topshop empire out of administration.

Arcadia, which employed 13,000 people across 500 outlets at the time of last year’s collapse, is being auctioned, with Monday being the deadline for final bids.

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