Employees at the branch at the Hampton shopping centre were informed of their redundancy this week, and administrators at Deloitte have confirmed to Peterborough Matters that the store will be closing permanently at the end of the month.
The store, home to brands including Topshop, Topman, and Burton among many others, is currently closed due to lockdown restrictions like other branches, and will now not be reopening.
However there was brighter news elsewhere, as a spokesperson from Deloitte added: "Neither the Peterborough Brotherhood store or the Topshop/Topman stores in Queensgate Peterborough are due to close at this time."
Arcadia’s brands hired Deloitte to handle the next steps after the pandemic "severely impacted" upon sales across its brands.
Last month, Chancellor Rishi Sunak said the Government "stands ready" to help workers affected by job losses at Arcadia and Debenhams.
Speaking in the Commons, Mr Sunak said: "The news about Arcadia, and indeed Debenhams, is deeply worrying for employees and their families and the Government stands ready to support them.
"With regard to various things that are ongoing, there are negotiations between various parties and the companies at the moment – particularly with regard to pensions – and it wouldn’t be right for me to comment specifically on those.
"Responding to a question from Labour MP Ruth Jones, Mr Sunak said she could “be rest assured we keep an eye on the situation."