Tag : Arcadia
High street braced for surge of CVAsSubscription
High streets across the UK are preparing for a wave of store closures, as an onslaught of retail company voluntary arrangements (CVAs) looms.
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.
The House of Lords standards body has dismissed a complaint made by Sir Philip Green against Lord Hain, who named the retailer as the man at the centre of sexual harassment and racial abuse allegations.
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 earmarks 67 stores for exitSubscription
Arcadia Group has drawn up a list of 67 stores that it no longer wishes to operate. Advisers are approaching potential occupiers to take over the leases.
As landlords ready themselves for restructurings at Debenhams and Arcadia Group, retailers fear that already struggling high streets will become “ghost towns” if they make widespread store closures.
Pressure mounts on Arcadia pension black hole Subscription
Sir Philip Green may have to increase payments to Arcadia’s pension scheme, as the business prepares for a possible company voluntary arrangement (CVA).