Sir Philip Green sells former BHS headquarters for £44m March 10, 2019 Retail tycoon Sir Philip Green has sold a former BHS headquarters in London as his fashion empire Arcadia faces challenges on the high street. Green, who has been under fire over allegations of racial abuse and sexual harassment – which he denies – has sold Marylebone House to property investment company Aprirose for £44m. Read more: [...]
Top financial PR firm cuts ties with Sir Philip Green amid conduct allegations February 27, 2019 Sir Philip Green’s financial PR firm is set to jump ship tomorrow in the latest corporate blow to the embattled mogul, just days after Baroness Karren Brady quit as chair of his retail empire. City A.M. understands that Green’s communications consultancy Maitland/AMO is ending its relations with the scandal-hit tycoon tomorrow evening amid mounting public [...]
Philip Green’s retail empire avoids administration as rescue plan is passed June 12, 2019 SIR PHILIP Green squeezed through a controversial rescue plan this evening as his fashion empire came back from the brink of administration by winning a crunch vote. Read more: Green offers landlords cash to save Arcadia Creditors passed a series of votes that will give the embattled Topshop tycoon breathing space to embark on a [...]
Monsoon Accessorize landlords ‘call for stake’ in retailer as CVA approaches May 30, 2019 Four property giants have reportedly offered to support a financial restructuring at troubled fashion retailer Monsoon Accessorize – but only if it gives them an equity stake in the firm. Read more: Retailer Monsoon Accessorize 'plans to close dozens of stores' across UK British Land, Hammerson, M&G Investments and Roubaix Group have teamed up to [...]
Sir Philip Green to close Miss Selfridge’s flagship Oxford Street store amid Arcadia restructuring May 27, 2019 The troubles for Sir Philip Green’s beleaguered retail empire Arcadia showed no sign of abating this evening as it emerged the mogul is to close the flagship central London branch of Miss Selfridge this summer. Arcadia hopes its creditors will next week approve a company voluntary arrangement (CVA), an insolvency procedure which enables the closure [...]
Hilco eyes up struggling retailer Bathstore June 21, 2019 Restructuring fund Hilco is set to pounce on UK retailer Bathstore as it teeters on the edge of collapse, it is reported. Hilco, which has already taken over struggling high street names like HMV and Homebase, is in the process of preparing for a take over of Bathstore, according to Sky News. Read more: Now [...]
Sports Direct launches legal challenge to Debenhams restructuring plan June 11, 2019 Retail tycoon Mike Ashley has launched an audacious legal challenge to stall the turnaround plan at Debenhams, reigniting a bitter feud for control of the high street retailer. The embattled department store chain confirmed today that it has received challenges to its company voluntary arrangements (CVA) from parties including Sports Direct, the budget sportswear retailer [...]
Oxford Street discounts signal a troubling start to the summer for retailers June 25, 2019 The crucial summer selling season is finally upon us, but for retailers on London’s most celebrated high street, all is not well. Big red discounts in shop windows line the parade on Oxford Street, where many of the country’s flagship fashion stores are offering major price reductions in a desperate bid to boost their sales. [...]
Creditors prepare to vote on Monsoon Accessorize rescue plan June 30, 2019 Creditors will decide the fate of Monsoon Accessorize this week as they vote on the company’s rescue plan, which includes proposals to slash rents at more than half of its leased stores. Last month the retailer launched a company voluntary arrangement (CVA), which outlined plans to cut rent at 135 of Monsoon and Accessorize’s 258 [...]
Sir Philip Green prepares to launch Arcadia restructuring plan May 22, 2019 Sir Philip Green is preparing to launch a company voluntary arrangement (CVA) restructuring of his Arcadia retail empire. The plans, which are expected to be announced by the end of the week, would see landlords handed a shareholding of more than one-third of the business, Sky News reported. Read more: Sir Philip Green loses his [...]