Deloitte said it expects to find one or two buyers “to ensure the future success of the businesses”.
Arcadia boss Ian Grabiner said the “forced closure of our stores for prolonged periods, has severely impacted on trading across all of our brands.”
Arcadia traces its history back to the Burton Group, a menswear brand launched by 18-year-old Lithuanian émigré Meshe David Osinsky in 1903 with a borrowed £100.
He later changed his name to Montague Burton and was knighted in 1931 for services to industrial relations.
Sir Montague, who died in 1952, pioneered a welfare system for his employees, providing workers an on-site dentist, eye specialist and food.
