Tag : Sir Philip Green
Coronavirus: Arcadia seeks £50m funding Subscription
Topshop owner Arcadia is seeking to borrow up to £50m against its distribution centre, in an effort to support the business through the current coronavirus crisis.
Arcadia furloughs head office staff Subscription
Arcadia Group has furloughed nearly all head office employees across the group, and the board and senior leadership team will take a salary reduction of between 25%-50% amid the coronavirus crisis.
Sir Philip Green’s Arcadia Group has written to suppliers to inform them that it will be cancelling all orders and extending payment terms, in a bid to protect the business during the coronavirus outbreak.
Arcadia at a Christmas crossroads Subscription
As Topshop CEO Paul Price resigns, and ahead of a slew of lease breaks and the Christmas deadline for the £310m loan repayment on its Topshop London flagship, the future of Arcadia Group looks as uncertain as ever
Updated: Arcadia names new chairmanSubscription
Sir Philip Green’s Arcadia Group has appointed Andrew Coppel as its new chairman, following a turbulent year for the embattled retail empire.
Arcadia Group suppliers are concerned that the company’s operating losses for the 53 weeks to 1 September 2018 were “much worse” than anticipated.
Arcadia's future 'up in the air' as Shepherd exits Subscription
Industry sources have questioned the future of Arcadia Group after its “henchman” David Shepherd decided to step down as chief operating officer, marking the end of the position at the business.
Sir Philip Green is reportedly splitting up Arcadia Group into separate brands in the hope of selling them “over time”.
Two US landlords, Vornado and Caruso, have withdrawn their legal challenges against Arcadia Group’s company voluntary arrangements.
US landlords file legal challenge against Arcadia Subscription
A group of US landlords have reportedly filed a legal challenge against Topshop’s liquidation in America, in a bid to recoup some of their losses, which they claim to be in excess of £100m.
Topshop fashion director departs for M&SSubscription
Topshop fashion director Maddy Evans is leaving the company to join Marks & Spencer in a senior buying role.
Arcadia to axe 170 head office jobsSubscription
Arcadia is to cut 170 head office roles as Sir Philip Green battles to turn around its fortunes.
The tough stance taken by some Arcadia Group landlords forced owner Sir Philip Green to invest more in the business to ensure the controversial company voluntary arrangement (CVA) passed, industry experts have claimed.
Intu to vote against Arcadia CVA Subscription
Landlord Intu Properties has said it will oppose Arcadia Group’s company voluntary arrangement (CVA) at the postponed creditors’ meeting tomorrow.
Topshop to launch on AsosSubscription
Arcadia boss Sir Philip Green is preparing to invest £135m in a makeover of its brands, which include Topshop, Topman, Dorothy Perkins and Miss Selfridge, as he battles to save the high street empire.
Green to close Miss Selfridge flagshipSubscription
Sir Philip Green will close Miss Selfridge’s flagship on London’s Oxford Street this July, as Arcadia shifts the brand’s focus to a wholesale, concession and online model.
Lord Hain lists Sir Philip Green abuse allegations Subscription
Lord Hain detailed alleged abuse claims about Arcadia Group owner Sir Philip Green under parliamentary privilege at the House of Lords today.
Sir Philip Green’s fortune halves in a yearSubscription
Sir Philip Green’s fortune has dropped by £1.05bn to £950m in a year, as high street turbulence takes its toll on the Arcadia retail empire.
Arcadia restructuring: who holds the power?Subscription
As the business world awaits Arcadia Group’s imminent restructuring, Drapers spoke to industry experts to find out who is calling the shots in the negotiations.
Arcadia set for crunch CVA meeting Subscription
Directors from Arcadia will reportedly meet today to discuss plans for a Company Voluntary Arrangement (CVA), as Sir Philip Green seeks a rescue plan for his high street empire.
Sir Philip Green is said to have offered Topshop’s flagship Oxford Circus store as security to the Arcadia pension fund.
Sir Philip Green appoints restructuring expertsSubscription
Sir Philip Green has appointed two restructuring specialists to the boards of his retail empire.
Sir Philip Green plans to halve pension payments Subscription
Sir Philip Green is planning to slash payments into the Arcadia Group staff pension fund to £25m a year as it seeks to restructure its financial operations, Sky News has reported.
Sir Philip Green’s advisers are reportedly considering offering landlords Arcadia Group shares of up to 20%, to win over their support for a restructuring of his struggling empire.
Arcadia appoints advisers ahead of possible CVASubscription
Arcadia Group has appointed property advisers ahead of a possible company voluntary arrangement.
Mike Ashley 'would not buy Arcadia for £1'Subscription
Amid his battle for control at Debenhams, Sports Direct tycoon Mike Ashley has lashed out at Sir Philip Green, announcing that he would not buy the mogul’s Arcadia Group empire, even for £1.
Arcadia inches closer to CVASubscription
Arcadia is reported to be weeks away from a company voluntary arrangement (CVA), as owner Sir Philip Green holds talks with its advisers.
Sir Philip Green sells former BHS HQ Subscription
Sir Philip Green has sold the former BHS headquarters in London as his retail empire struggles with tumbling sales and rising property costs, it has been reported.
Labour party chair Ian Lavery has joined those calling for Sir Philip Green to be stripped of his knighthood, following sexual and racial assault allegations against the retail mogul.
Sir Philip Green in new court actionSubscription
Sir Philip Green has entered a new court battle with the Daily Telegraph to uncover the newspaper’s sources for its story alleging harassment by an unnamed businessman.
Philip Green launches ‘review’ of Arcadia Subscription
Sir Philip Green has reportedly launched a review of Arcadia Group and hired advisers from Deloitte to explore a raft of store closures.
Beyoncé buys Philip Green out of Ivy Park Subscription
Beyoncé has acquired 100% control over her Ivy Park activewear collection, after buying Sir Philip Green’s share of the business.
Comment: Is this fashion retail’s #metoo moment?Subscription
The allegations that Arcadia Group boss Sir Philip Green bullied, racially abused and sexually harassed some of his employees have sent ripples through the industry.
Philip Green says it was only 'banter' Subscription
Arcadia Group boss Sir Philip Green has spoken out about allegations of bullying, racism and sexual harassment, and said he has had “the worst week of his life”.
Arcadia Group owner Sir Philip Green has been named in parliament as the businessman facing allegations of harassment.
BHS director inquiry may relaunchSubscription
An investigation into the directors of BHS could be reopened by the Insolvency Service, following the release of new evidence contained in a report from the Financial Reporting Council (FRC).
Arcadia owner Taveta Investments has said it has not considering an appeal, after an attempt to block publication of the BHS audit report was rejected.
Sir Philip Green in High Court action over BHSSubscription
Sir Philip Green has started a legal battle with regulators over a probe into the audit of BHS’s accounts during the year before the chain was sold, it has been reported.
Record fine for PwC over BHS misconductSubscription
Professional services firm PwC has been hit with a record fine of £10m for failings over BHS before its controversial sale by Sir Philip Green.
Topshop swings to £10.9m lossSubscription
Young fashion giant Topshop reported a £10.9m loss in the year to August 2017, as high street retailers continue to face tough trading conditions.
Former BHS owner Chappell faces directorship banSubscription
The Insolvency Service plans to ban former BHS boss Dominic Chappell from holding a directorship for up to 15 years.
Arcadia sale speculation sparks debateSubscription
Sir Philip Green’s Arcadia Group has found itself under further scrutiny this week after speculation about a possible sale – which Green dismissed as “totally false”.
Green denies Arcadia sale rumours Subscription
Sir Philip Green has denied reports that he is planning to sell all or part of Arcadia.
Sir Philip Green 'mulls Arcadia sale'Subscription
Topshop boss Sir Philip Green is reportedly planning to sell all or part of his Arcadia Group empire.
Last year: 18
Sir Philip Green sends warning to MP Frank FieldSubscription
Arcadia boss Sir Philip Green has warned Frank Field to read a letter from his lawyers “very, very carefully” after the MP claimed to have new evidence about the BHS pension settlement in a radio interview.
‘New era’ at Topshop/Topman Subscription
Industry observers have expressed confidence over the new senior appointments at Topshop/Topman, but warned that changes are needed if the retailer is to return to its former glory.
Analysis: Who is Topshop's new boss?Subscription
Who is Paul Price? That was the question on everyone’s lips as news of the appointment of this relatively unknown figure to the top job at Topshop and Topman was announced yesterday.
The Pensions Regulator investigating the BHS collapse has said Sir Philip Green sold the struggling retailer to avoid taking on the liability for its pension scheme. Drapers takes a closer look at the damning report.
Sir Philip Green sold struggling retailer BHS to avoid taking on the liability for its pension scheme, the Pensions Regulator has claimed in a new report.