Updates

Latest Entries

Philip Green asks for taxpayer support to prop up Arcadia

By Zoe Wood

Billionaire asks government to pay 14,500 employees out of emergency wage scheme

The billionaire retailer Philip Green is asking for taxpayer help to prop up his crumbling fashion empire, with 14,500 employees set to be paid out of the government’s emergency wage support scheme.

Like other fashion retailers, Arcadia, which owns brands including Topshop, Dorothy Perkins and Miss Selfridge, is facing financial turmoil as the lockdown prevents Britons from shopping. The company has already asked landlords for rent cuts and paused payments into its pension scheme.

Continue reading…

Via:: https://www.theguardian.com/business/2020/apr/02/philip-green-asks-for-taxpayer-support-to-prop-up-arcadia