THE Arcadia retail group has been saved from going into administration but some of its stores will close in a major restructuring.

The fashion chain's shops include Topshop and Topman in Bradford's Broadway Shopping Centre and Burton, Wallis, Dorothy Perkins and Miss Selfridge in Outfit at the Forster Square Retail Park

Sir Philip Green's plans to close stores scraped through this afternoon after a knife-edge vote received the backing of landlords.

The group announced that its company voluntary arrangements (CVAs) had all been voted through at a reconvened meeting of creditors.

It means around 1,000 jobs are at risk as 23 stores close under the CVA, while another 25 will be shuttered as part of a wider restructuring.

Landlords will also receive smaller amounts of rent on certain properties, with some reduced to half the original price.

All seven restructuring plans passed and it means the majority of the 18,000-strong workforce will keep their jobs across the Arcadia brands - Topshop, Evans, Burton, Wallis, Topman, Dorothy Perkins and Miss Selfridge.

Arcadia's chief executive Ian Grabiner said: "We are extremely grateful to our creditors for supporting these proposals and to Lady Green for her continued support.

"After many months of engaging with all our key stakeholders, taking on board their feedback, and sharing our turnaround plans, the future of Arcadia, our thousands of colleagues, and our extensive supplier base is now on a much firmer footing.

"From today, with the right structure in place to reduce our cost base and create a stable financial platform for the Group, we can execute our business turnaround plan to drive growth through our digital and wholesale channels, while ensuring our store portfolio remains at the heart of our customer offer.

"I am confident about the future of Arcadia and our ability to provide our customers with the very best multi-channel experience, deliver the fashion trends that they demand, and ultimately inspire a renewed loyalty to our brands that will support the long-term growth of our business.

The proposals were passed at a second meeting, which came a week after the first was postponed.

The initial vote was adjourned after it became clear that there was not sufficient support among landlords.

Sir Philip and his wife Lady Green then proposed less severe rent cuts in a bid to appease the opponents of the proposals.

Arcadia said Lady Tina Green, Sir Philip's wife who is ultimate owner of the business, will invest £50 million into the company, on top of £50 million funding already provided in March. But pensions contributions will fall from £50 million to £25 million a year for three years, with security of £210 million on Arcadia assets.

However, the CVA remained contentious, with some landlords reported to have voted against.

Speaking to the press after the meeting but before the result, Oliver Buhus from supplier Paragon Clothing said landlords had been "ruthless and self-serving".

"There's no sense of taking an initiative to act collectively, it's each landlord for himself," he said.

The proposals, which were launched last month, involve the closure of 23 stores in the UK and Ireland.

Another 11 Topshop and Topman stores in the US were earmarked for closure, while an additional 25 Miss Selfridge and Evans stores were also slated to be axed.

In total, at least 1,000 employees are likely to be affected.

The initial plans also included a reduction in the company's contributions to its pension fund, alongside a fresh injection of cash into the scheme.

However, Arcadia agreed with the pensions watchdog last week that Sir Philip would contribute another £25 million - bringing the total cash and security package to the value of £310 million.

Speculation began early this year that Sir Philip would look to either sell off the company, or close stores.