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