Sir Philip Green locks horns with landlords and comes off worst
What happened to Sir Philip Green’s supposed talent for bullying? The great vote on the restructuring of his Arcadia empire was postponed on Wednesday afternoon because too many landlords were in revolt. He tried pleading personally with the big beasts of the property world, which will have been an unexpected humiliation for him, but got nowhere. Negotiation by brinkmanship doesn’t always work, it seems.
Green now has a week to come up with something new, which means a more generous proposal. It won’t be easy because many of the landlords cannot even be described as floating voters. Talk to members of the hardline no camp and they make two points, both of which carry cold commercial logic.
Read the full article on The Guardian.