Arcadia COO David Shepherd exits in the middle of restructuring process

Arcadia continues its restructuring. David Shepherd, chief operating officer of Arcadia, has reportedly left the company after more than 25 years in the British group. The executive, former brand director of Topshop for more than 13 years, stepped down from his role and it’s believed the group will not replace his position, according to Drapers.

Arcadia, owner of brands like Topshop, Topman and Dorothy Perkins is in the middle of a restructuring process that includes more than 170 dismissals in its headquarters, the closure of twenty-three stores in Ireland and the United Kingdom and twenty-five stores in the United States.

At the same time the announcement saw the light, the brand denied the separation of its brands for a possible sale. Arcadia got the green line last week from its American landlords to start the action plan stated in insolvency agreement (CVA), achieved through an out-of-court settlement.

Arcadia reduced its sales by 5.6% in its last fiscal year. Besides, the group that owns Topshop closed the period with a 42% drop in operating profit, falling to 124.1 million pounds (150.8 million dollars).