Ikea snaps up former Topshop Oxford St flagship for £378m Ikea snaps up former Topshop Oxford St flagship for £378m IKEA has bought the former Topshop flagship store for £378m on Oxford St. The 214 Oxford St store was formerly owned by Arcadia, before the demise of fashion brands Topshop and Topman. Now, the Swedish-origin furniture giant is set to open up in autumn 2023, after the site was bought by Ingka Investments, the investment [...]
Sir Philip Green’s wife spent millions on London homes as BHS collapsed Sir Philip Green's wife spent millions on London homes as BHS collapsed Sir Philip Green’s wife spent millions on London properties while thousands of employees working at now-collapsed BHS prepared to lose their jobs. Details of Lady Tina Green’s spending were laid bare in the ‘Pandora Papers – leaked offshore financial documents published by the BBC. Tina Green used a company located in the British Virgin Islands [...]
Ikea set to take on Topshop flagship store on Oxford Street Ikea set to take on Topshop flagship store on Oxford Street Ikea has reportedly agreed a deal to take on Topshop’s flagship store on Oxford Street for around £385m. The furniture conglomerate has also bought the 73,000 sq ft NikeTown and a 4,700 sq ft Vans shop, adjacent to the Topshop store, according to real estate publication React News. Ikea is thought to be planning a [...]
End of an era: Liquidators appointed to wind up Philip Green’s Arcadia empire July 13, 2021 The administrators of Philip Green’s collapsed Arcadia have appointed liquidators to wind up the companies, marking the end of an era for the tycoon’s once-booming retail empire. Arcadia operated a number of high street brands across the UK and globally, including Topshop, Burton and Dorothy Perkins, and employed over 13,000 people at its peak. The [...]
Philip Green’s wife Tina paid £50m by Topshop administrators July 7, 2021 Tina Green, the wife of former retail tycoon Philip Green, received £50m in May from Topshop’s administration. The £50m was lent to Topshop as part of an emergency restructuring in 2019 and secured against a warehouse in Northamptonshire. In the wake of the collapse of parent company Arcadia, the space was sold for £83m, the [...]
Bargain bin: Topshop’s former Oxford Street site on sale for £420m May 2, 2021 For years it was the jewel in the crown of Sir Philip Green’s retail empire. But with the collapse of Arcadia last November, the former home of Topshop on Oxford Street is now on the market for a cool £420m. Marketing materials seen by The Times suggest the property will offer a “new age retail [...]
Singled out: This year’s billionaire Brits April 7, 2021 Forbes released its highly anticipated billionaire list yesterday morning which has left regular folks pinching purse strings in hopes to add another zero to their bank accounts. The UK’s home-grown billionaires did not make it into the lucrative top 10, which was dominated by tech big dogs: Amazon’s founder Jeff Bezos, Tesla and SpaceX’s Elon [...]
Sir Philip Green’s office furniture up for sale as administrators flog Arcadia assets after collapse March 22, 2021 Administrators have begun flogging Arcadia’s assets, including sewing machines and Sir Philip Green’s office furniture, following the collapse of his retail empire. Deloitte has appointed Hilco Global to sell the former Topshop owner’s London headquarters in a dramatic fall from high street royalty to the auction house. Arcadia collapsed into administration last year, putting 13,000 [...]
Arcadia collapse leaves bigger than expected £510m pension deficit February 19, 2021 The collapse of high street empire Arcadia has left a £510m pension deficit, some £200m more than previous estimates. Arcadia collapsed in December, becoming the largest casualty of the coronavirus pandemic and leaving thousands jobless. The news of a bigger-than-expected pension deficit, first reported by the Retail Gazette, paints a starker picture for individuals affected [...]
Arcadia staff gear up for legal action against Philip Green’s retail empire February 9, 2021 Dozens of ex-Arcadia staff have vowed to take legal action against the retail consortium, after it became clear their jobs would not be saved when the Arcadia brands were sold. Arcadia fell into administration in December, becoming the biggest high street casualty of the Covid-19 pandemic. Earlier this week online fashion giant Boohoo announced it [...]