Landlords turn screw on Philip Green over Arcadia’s plans to slash rents
Retail mogul Sir Philip Green will drastically have to re-think a rescue plan for his Arcadia fashion empire if the Topshop parent wants to avoid collapsing into administration, angry landlords warned on Thursday.
The future of Green’s Arcadia business is hanging in the balance after a delayed vote on a plan to shut 23 shops and get rent cuts of between 30% and 70% at 194 of its remaining 543 sites. Landlords would get a 20% stake in the retailer.
Read the full article at the Evening Standard.