Arcadia has collapsed into administration, risking 13,000 jobs.
The owner of Topshop and Dorothy Perkins has become the biggest casualty of the pandemic.
The group said that no redundancies are being announced today and retailers will continue to trade over the Christmas period whilst the group looks for a buyer.
Usdaw, the retail trade union, has said that it is holding urgent meetings to protect as many jobs as possible.
Dave Gill, a Usdaw national officer, said: “Now that Arcadia is in administration, it is crucial that the voice of staff is heard over the future of the business and that is best done through their trade union.
“We are seeking urgent meetings and need assurances on what efforts are being made to save jobs, the plan for stores to continue trading and the funding of the pension scheme.
“In the meantime, we are providing our members with the support and advice they need at this very difficult time.”
Since the news broke, Arcadia chairman Ian Grabiner, said: “This is an incredibly sad day for all of our colleagues as well as our suppliers and our many other stakeholders.”
“Throughout this immensely challenging time our priority has been to protect jobs and preserve the financial stability of the group in the hope that we could ride out the pandemic and come out fighting on the other side.
“Ultimately, however, in the face of the most difficult trading conditions we have ever experienced, the obstacles we encountered were far too severe.”