Philip Green's Arcadia turnaround plan could trigger heavy job losses

Philip Green's Arcadia turnaround plan could trigger heavy job losses
 

Sir Philip Green is working on a plan to turn around his ailing Arcadia high street empire, which could trigger heavy job losses and nationwide store closures.
The embattled billionaire is the latest high street business owner to explore a Company Voluntary Arrangement (CVA), a form of insolvency used to jettison unwanted stores and seek reduced rents.
Profits at Topshop owner Arcadia have fallen sharply in recent years as the fashion group, which has about 570 shops and hundreds of department store concessions, has lost young shoppers to online stores such as Asos and Boohoo.
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Friday, 14:43 in Business, Views: 56
Source: Guardian
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