Topshop Australia shuts five stores in rescue bid

The administrators of Topshop’s Australian business are reportedly closing five of nine standalone stores in an effort to save its business in the region.

One of the five shops affected is its Chapel Street branch, reports The Sydney Morning Herald. It is expected to close within weeks.

Chapel Street was the first Topshop store to open in Australia in 2011.

Its stores at the Chatswood and Miranda shopping centres in New South Wales, Highpoint in Melbourne, and Perth are also said to have shut in the past two weeks.

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