TWO popular high street shops Burton and Topman are to close.

It's understood the city centre location is among 23 shops throughout the UK to be shut as part of a rescue plan by Topshop tycoon Sir Philip Green.

It's not known how many Glasgow jobs will be lost, however, a total of 520 are under threat across the country.

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Ian Grabiner, chief executive of Arcadia Group, called the steps "tough but necessary" to mend the business.

The company also plans to shut all its 11 Topshop and Topman stores in the US.

It is another blow to the tycoon, who this month lost his Sunday Times Rich List billionaire status.

Stirling and Aberdeen are also set to lose both their Dorothy Perkins and Burton stores.

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It's thought the remaining Topman and Burton shops across Glasgow, such as Silverburn, will remain open.

In return for the rent cuts, Sir Philip's wife, Lady Tina Green, who is the main shareholder of Arcadia, will invest £50m in the company.

Landlords and other creditors will have to agree to the proposal, which will be put to them on June 5.

The deal will see them owning 20 per cent of the firm, while they will also be able to claim against a £40million "compromised creditor" fund.

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It has not been made clear just how steep a rent reduction they are being asked to provide.

Sir Philip's Arcadia group has 1,170 shops in 36 countries, although the majority are concessions or franchises.

It has 566 locations in the UK and Ireland, employing 18,000 people.