Sir Philip Green’s Arcadia group’s rescue deal backed by creditors

Sir Philip Green’s Arcadia retail group has narrowly secured backing for plans to close numerous stores in a bid to cut rent prices.

The giant – which owns Topshop, Burton and other high street brands – won a vote by landlords on Wednesday supporting plans to restructure.

It means that the stores will be open as usual tomorrow and Arcadia’s 18,000-strong work force will mostly keep their jobs.

But there are around 1,000 jobs are now at risk as 23 stores will close...
source: Metro

2019-06-12 20:20
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