Sir Philip Green told to plug Arcadia’s mammoth pensions deficit with his own cash May 24, 2019 Frank Field has weighed in on the row surrounding Sir Philip Green’s proposed restructuring of Arcadia, calling on the Topshop tycoon to guarantee his staff’s pensions with his own personal fortune. Read more: Arcadia to shut two dozen stores in radical rescue plan In a letter, the Work and Pensions Committee chair said Green should [...]
Sir Philip Green ‘grabbed breasts’ of female workers, Labour peer claims May 23, 2019 Topshop tycoon Sir Philip Green repeatedly groped his female employees, a Labour peer has claimed. Lord Hain used parliamentary privilege to reveal a list of accusations of inappropriate behaviour by the retail magnate, who has strongly denied allegations of harassment. Read more: Sir Philip Green loses his billionaire status It is the second time Hain [...]
Arcadia to shut two dozen stores and withdraw from the US in radical rescue plan May 22, 2019 Sir Philip Green’s retail empire Arcadia will shut almost two dozen stores and slash up to 500 jobs as part of a restructuring plan revealed today. The high street stalwart said it has launched seven company voluntary arrangements (CVA) as part of a desperate plan to turn around its ailing fortunes amid torrid trading conditions. [...]
Sir Philip Green prepares to launch Arcadia restructuring plan May 22, 2019 Sir Philip Green is preparing to launch a company voluntary arrangement (CVA) restructuring of his Arcadia retail empire. The plans, which are expected to be announced by the end of the week, would see landlords handed a shareholding of more than one-third of the business, Sky News reported. Read more: Sir Philip Green loses his [...]
Sir Philip Green loses his billionaire status May 12, 2019 Sir Philip Green has lost his billionaire status, rounding off a torrid 12 months for the scandal-hit fashion mogul. For the first time since 2002, Green can no longer count himself a member of the billionaires club after seeing his personal fortune halve over the course of the last year. The Topshop tycoon and his [...]
India’s Hinduja brothers top Rich List for third time as Jim Ratcliffe loses out May 12, 2019 Britain’s 1,000 richest people have again had their respective fortunes stacked against each other to determine the most wealthy person in the country, in the 2019 Sunday Times Rich List. This year it was bad news for Jim Ratcliffe, owner of chemicals giant Ineos, who dropped to third place after topping last year’s list, while [...]
Board to hold crunch meeting over Sir Philip Green’s Arcadia restructure tomorrow April 29, 2019 Bosses at Sir Philip Green’s Arcadia are reportedly set to discuss the fate of the troubled fashion firm at a crunch meeting tomorrow. Read more: Sir Philip Green appoints restructuring specialists to Arcadia's board The future of the fashion tycoon’s retail chain, which includes brands such as Topshop and Dorothy Perkins, is set to be [...]
Topshoppers are not put off by Sir Philip Green’s troubles April 17, 2019 Last week, Sir Philip Green appointed restructuring specialists to the boards of his Arcadia retail empire in preparation for a major reconfiguration in May to tackle the company’s £500m deficit. Green has pinned Arcadia’s struggles on a challenging retail market and the ailing British high street, however Arcadia’s brands may have been affected by his [...]
Sir Philip Green appoints restructuring specialists to Arcadia’s board April 11, 2019 Sir Philip Green has appointed restructuring experts to the board of his retail empire as the billionaire tycoon prepares to overhaul the company. Former Deloitte partner Jamie Drummond Smith, who was the chairman of Cattles, has joined the board as interim chairman and Peter Bloxham, an independent restructuring advisor and former head of restructuring and [...]
Topshop billionaire Sir Philip Green slammed over potential pensions row as US investor backs out April 10, 2019 Sir Philip Green’s troubles escalated this morning as an influential parliamentary chair hit out at the billionaire tycoon and news emerged of a top US backer pulling out of his retail empire. The Topshop owner has been accused of being up to “old tricks again” by Frank Field, chair of the Work and Pensions Select [...]