David Shepherd stood down from his role as chief operating officer of Arcadia at the end of last month, according to a filing on Companies House.

He had been with the business for 25 years, having begun his career there on the shop floor before working his way up to oversee the running of Topman. He took on his most recent role in 2012.

The Telegraph also reports that “another resignation could be on the cards”, although has yet to publish the identity of that person.