Top flop

1 December 2020 By Aimee Donnellan Follow @aimeedonnellan

The Monaco-based tycoon’s Arcadia empire has collapsed. His decision to pay wife Tina a 1 bln pound dividend took chips off the table, but left the Topshop owner poorly placed for the internet. With pensioners and small suppliers on the hook it’s a stark lesson in moral hazard.

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British tycoon Philip Green’s Arcadia fashion group on Nov. 30 was placed in administration after failing to secure financing or find a buyer.

Deloitte said it had been appointed Arcadia’s administrator and would seek buyers for the group’s brands: Topshop, Topman, Dorothy Perkins, Wallis, Miss Selfridge, Evans, Burton and Outfit.

Arcadia trades from 444 leased sites in the United Kingdom and 22 overseas.

Deloitte said Arcadia’s stores would continue to trade, its online platforms would remain operational and supplies to concession partners would continue.

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