Karren Brady says feminist principles ‘didn’t square’ with Sir Philip Green allegations January 15, 2020 Baroness Karren Brady said quit the board of Arcadia’s holding company as her feminist principles did not “square” with allegations about retail tycoon Philip Green. Brady stepped down as non-executive chairman of Taveta Investments last February as Green faced allegations of harassment and bullying, which he denies. Read more: Karren Brady and a lesson on [...]
Topshop boss Sir Philip Green bags £310m loan for Oxford Street store December 13, 2019 Sir Philip Green has bagged a £310m deal to remortgage the flagship Topshop store on Oxford Street, securing the future of a crucial asset in his struggling retail empire. Topshop parent company Arcadia Group today said it had completed a four-year refinancing deal with US investment giant Apollo Management. Read more: Sir Philip Green’s Arcadia [...]
Arcadia bolsters senior digital team in online sales push November 6, 2019 Sir Philip Green’s Arcadia has bolstered its digital team with three new senior hires, as the embattled retail group seeks to improve online sales as its physical stores continue to struggle. Arcadia, which owns high street brands such as Topshop and Dorothy Perkins, has created a new role – group chief digital officer – as [...]
Philip Green’s Miss Selfridge posts £17.5m loss as sales slump September 29, 2019 Sir Philip Green’s Miss Selfridge chain fell to a loss of £17.5m last year as the retailer suffered a decline in sales and a writedown in the value of loss-making stores. The womenswear chain booked sales of £102m in the year to 1 September 2018, down more than 15 per cent on the previous 12 [...]
Sir Philip Green’s Arcadia reveals huge losses amid CVA controversy September 6, 2019 Arcadia, Sir Philip Green’s high street empire, plunged into huge losses last year before it launched a controversial restructuring drive, new accounts have shown. The group reported an operating loss of £138m for the year ending 1 September 2018, a sharp decline on the £119m operating profit it made the previous year, according to documents [...]
Arcadia loses another director as interim chairman steps down September 4, 2019 Sir Philip Green’s retail empire has lost another director as interim chairman Jamie Drummond Smith stepped down. Drummond Smith quit on 30 August, the same day that chief operating officer David Shepherd retired, according to company filings. Read more: Arcadia COO steps down A former partner at Deloitte and chairman of Cattles, Drummond Smith joined [...]
Arcadia COO steps down amid challenging times for retailer September 2, 2019 Arcadia’s chief operating officer has stepped down after more than 25 years with Sir Philip Green’s retail empire. David Shepherd, who took on the operating chief role in 2012 and was previously a director at Topman, retired at the end of last month. Read more: Arcadia denies it is preparing to dismantle brands His departure [...]
US landlords withdraw legal challenge to Arcadia CVA August 27, 2019 Two US landlords have withdrawn their legal challenges to Sir Philip Green’s restructuring plan for his embattled retail empire Arcadia. The businessman has reached an agreement with Vornado, which owns two Topshop stores in New York, and Californian landlord Caruso. Read more: US property firm challenges Arcadia restructuring plans The retail landlords had launched an [...]
US property firm challenges Arcadia restructuring plans July 16, 2019 Sir Philip Green’s Arcadia retail empire has been hit with a legal challenge from a US landlord over the company’s restructuring plans. US property company Vornado, which owns two Topshop stores in New York, has launched an offensive against the two of the retailer’s seven recently agreed company voluntary arrangements (CVAs). Read more: Pensions regulator [...]
Sir Philip Green wins legal battle against US landlords July 7, 2019 Retail tycoon Sir Philip Green has won a legal battle with a group of US landlords after a court dismissed their claim following the collapse into bankruptcy of Topshop USA. Five US landlords including Vornado were attempting to recoup more than £100m, saying that Green’s restructuring of retail empire Arcadia had compromised their rights as [...]