The collapse of Arcadia shows how important corporate responsibility is – we must learn lessons from it

Editorial: This is also a chance for weaknesses exposed by the coronavirus pandemic to be looked at across the world of business

We must not ignore the reasons behind the Topshop owner’s demise (AFP/Getty)

The collapse of Arcadia, the retail group run by Sir Philip Green, is an utter disaster. 

It is a disaster for the 13,000 employees, many of whom are likely to lose their jobs. It is a disaster for the suppliers of the various stores, including Topshop, Miss Selfridge, Burton and Dorothy Perkins, who are set to lose upwards of £250m if they do not get paid for goods they have shipped. 

It may be a disaster for the group’s pensioners, for there was already a huge deficit on the pension funds even before the collapse.