// Topshop store at Westfield Stratford is due for closure
// The store, which also has Topman, opened in September 2011
// The exact closure date remains unknown
The Topshop and Topman store in London’s Westfield Stratford centre is closing down, Arcadia Group has confirmed.
The two-storey shop opened in September 2011 and is closing as the lease expires, Drapers reported.
The store closure is not part of Arcadia’s seven CVAs, which were passed in June.
READ MORE: Arcadia completes Topshop flagship’s £310m refinancing
Arcadia closed down 23 Topshop and Topman stores across the UK and Ireland as part of the CVAs, while rents were slashed across the remainder of the portfolio.
Alongside the CVAs, Arcadia planned to put two subsidiaries into administration, resulting in a further 25 store closures.
Furthermore, the group confirmed the refinancing of its £310 million mortgage on Topshop’s flagship store on London’s Oxford Street on December 13.
The refinancing was secured through US private equity firm Apollo Global Management.
The original mortgage was provided in 2014 by a syndicate of banks led by Royal Bank of Scotland. It was scheduled to expire last June but was extended as part of Arcadia’s CVAs.
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