BRITAIN'S high streets are heading deeper into crisis with the expected financial collapse of national chain Arcadia and the loss of 15,000 jobs.

Arcadia, which owns brands including Topshop, Dorothy Perkins and Burton, is expected to appoint Deloitte as administrators in the near future.

The company is owned by billionaire Sir Philip Green, who lives part of the time in a London hotel and the rest in Monaco, a Mediterranean tax haven where he has a luxury £100 million cruiser.