Arcadia records €17m in losses

The Irish arm of the British-owned retailer that sells the Topshop, Dorothy Perkins, Topman and Burton brands plunged into the red last year after recording a loss of £14.1m (€17.3m).

Accounts filed with the Companies Registration Office by Arcadia Group Multiples (Ireland) show the firm incurred the loss after recording a charge for onerous leases and fixed asset impairments totalling £14m.

The £14.1m loss follows the firm recording a pre-tax profit of £1.7m in 2010. Revenues decreased by 13% from £59.1m to £51.3m in the 12 months to the end of August.