By John Smith • Published: 13 Dec 2019 • 15:45
Philip Green's Arcadia Group Reportedly Had A £510m Pension Deficit When It Collapsed. Credit: TopShop
AFTER nearly seeing his Arcadia business go into administration earlier this year, Sir Philip Green has managed to secure a £310 million (€360million) re-mortgage of one of the company’s main properties in Oxford Street.
This is a short term loan but should giving briefing space to the various businesses in the group which have been struggling due to falling sales and high rents.
It will also give new Chairman Andrew Coppel a chance to understand the various Arcadia businesses which include Top Shop and Dorothy Perkins.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
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