Blackpool’s Miss Selfridge, Topshop and Topman stores are to close in January.

The stores are part of the Arcadia Group owned by the rather outspoken and controversial retail entrepreneur Sir Philip Green.

The group said that the lease on the building in Victoria Street had come to an end but it was choosing not to renew it.

The group has negotiated a CVA to deal with its huge debts and has tried to decrease the cost of leases nationally.

A spokesman said: “As a business we continually review our store portfolio and, as part of this, the lease for the Topshop Topman and Miss Selfridge Blackpool stores will not be renewed and will cease trading on January 18, 2020.

“The businesses have endeavoured to offer store staff affected by the closures other employment options within the Arcadia Group. Customers can still visit the Topshop Topman and Miss Selfridge Preston stores or shop online.”

However, it was also later released that the group has posted a loss of almost Half A Billion pounds.

The fashion retailer, which has been hit hard by the rise of online rivals and multinational chains, posted a loss of £498m for 2018 – compared with £15.6m the year before. 

Revenues fell 9.3pc to £846m, according to Companies House filings.  

A spokesman for the shop workers union USDAW said: “The scale of store closures we have seen is devastating, not just for the workforce, but also for our communities and town centres.

“The Government needs to show that it takes retail jobs seriously by listening to and acting on workers’ concerns. It must address the growing crisis on our high streets, as we have called for through our ‘Save our Shops’ campaign.”

Blackpool’s high street is one of the worst hit in the first half of the year according to a report for PwC by the Local Data Company. It showed 2,870 stores closed in the UK in the first six months.

The research blamed growth in online shopping, shift to in-home leisure and heightened restructuring activity.

It said Blackpool was one of the worst towns in the region for shop closures with 11 closing and just three new ones opening in the first half. Bolton, Liverpool and Manchester only saw more closures with 13, 36 and 12 respectively.

Neil McTiffin, PwC’s retail leader, said: “Openings across the region quite simply aren’t replacing closures at a fast-enough rate.

“The reality for many of us is that we now prefer to shop online and increasingly eat, drink and entertain at home. As a result the high street is having to adapt to an overcapacity in retail and leisure space resulting from these channel shifts.

“The key for retailers and leisure operators across the North West is to continue looking at their businesses – including their store portfolios – to make sure they have a strong brand, product offering and essentially a clear proposition.”