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Sir Philip Green’s Arcadia empire is looking for £ 30 million to survive Covid-19 lockdown

NEWSDOS by NEWSDOS
November 16, 2020
2 min read
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Sir Philip Green’s Arcadia empire is looking for £ 30 million to survive Covid-19 lockdown


Sir Philip Green’s Arcadia empire is seeking £ 30m to help brands like Topshop and Burtons survive the Covid-19 lockdown

By City & Finance Reporter for the Daily Mail

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Released: 21:16 GMT, November 15, 2020 | Updated: 21:46 GMT, November 15, 2020

Sir Philip Green’s Arcadia is aiming for a cash injection of £ 30 million to get through the lockdown

Sir Philip Green’s Arcadia is aiming for a cash injection of £ 30 million to get through the lockdown.

The owner of brands like Topshop, Miss Selfridge and Burtons has sought help from lenders after lockdown restrictions affected sales and disrupted crucial trading through Christmas.

It was reported yesterday that the company was making plans to manage it.

A spokesperson denied the administrators “are close to appointment,” but said the company is “taking all appropriate steps” to protect itself from the effects of the pandemic.

If Arcadia, chaired by Sir Philip, fails to raise the money, concerns about its survival will arise, which could potentially jeopardize the jobs of 15,000 employees.

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