By Tony Winterburn • 28 November 2020 • 8:02
SIR PHILIP GREEN Plans £30,000-a-Night Island Christmas Getaway as his Fashion Empire Borders on Collapse.
Sir Philip Green has planned a Christmas getaway to a £30,000-a-night island in the Maldives just it was announced his high street fashion empire Arcadia is bordering on the edge of collapse. News the retail tycoon, 68, will be relaxing in luxury on the Reethi Rah resort over the festive period comes as his empire – which includes TopShop, Dorothy Perkins and Miss Selfridge – faces administration as early as next week.
Sir Philip apparently could not secure an emergency £30million loan to keep the retail giant afloat. Its 13,000 staff are at risk of redundancy, four months after it axed 500 roles in its head office.
Former BHS worker Lin MacMillan said: ‘This will go down like a lead balloon with Arcadia staff. It’s like sticking two fingers up at them.’
He was once seen as the king of the UK high street, but the likely demise of Sir Philip Green’s fashion empire comes long after that crown slipped to the floor. Green’s image was tarnished irreparably when he sold his ailing BHS department store chain for £1 to Dominic Chappell, a former bankrupt with no retail experience.
The business collapsed only a year later with the loss of 11,000 jobs and a £571m pension deficit, leading to an outcry that eventually forced Green to pay £353m to support the pension scheme.
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