Sir Philip Green’s Arcadia empire seeks £ 30m to help brands including Topshop and Portons survive the Covid-19 lockdown
Arcadia, Sir Philip Green, is seeking an injection of £ 30m to help it weather the lockdown
Arcadia is seeking Sir Philip Green’s £ 30m infusion of cash to help it survive lockdown.
Owner of brands including Topshop, Miss Selfridge and Portons asked lenders for support after lockdown restrictions hampered sales, disrupting important trading until Christmas.
Yesterday it was reported that the company was making plans for management.
A spokesman denied that officials were “close to being appointed” but said the company was “taking all appropriate steps” to protect itself from the impact of the pandemic.
If Arcadia, which is headed by Sir Philip, cannot raise the funds, concerns will be raised about its survival, potentially putting the jobs of 15,000 employees at risk.