A HIGH street fashion store in York is set to close - and become the latest casualty in the city's premier shopping street.

The Dorothy Perkins and Burton shop in Coney Street has been earmarked for closure as Sir Philip Green’s Arcadia Group announced plans to shut 23 stores in the UK and Ireland.

More than 500 jobs are at risk at Dorothy Perkins, Burton, Topshop and Topman stores around the UK which have been picked out for closure as part of a company voluntary arrangement (CVA), with rent to be cut at another 194 outlets.

The Coney Street shop was at risk of closure in September 2017, but was handed a stay of execution which was extended in February last year.

It is understood the York store will now remain open and trading until at least June 5.

However, its imminent closure is a fresh blow to Coney Street, which has suffered a string of shop closures in recent years.

Other empty shops in the street include the former BHS and River Island stores.

Ian Grabiner, Arcadia chief executive, said: “Against a backdrop of challenging retail headwinds, changing consumer habits and ever-increasing online competition, we have seriously considered all possible strategic options to return the group to a stable financial platform.

“This has been a tough but necessary decision for the business. We will ensure all potentially affected colleagues are kept fully informed as we seek approval from our creditors on today’s CVA proposals.”

Daniel Butters, partner at Deloitte, said: “Arcadia and its portfolio of iconic fashion brands have faced unprecedented market conditions in recent years, which have significantly impacted the group’s financial performance. These CVAs will provide a stable platform for Arcadia’s experienced and committed leadership team to implement its turnaround plan and ensure the long-term sustainability of the group.”

Speculation began early this year that Sir Philip would look to either sell off the company or close stores, when Arcadia confirmed it was exploring options to improve efficiency. The news comes just weeks after Sir Philip failed to appear on the Sunday Times Rich List for the first time in 17 years.