May 22, 2019
Topshop owner Sir Philip Green to close 23 stores
Topshop owner Sir Philip Green plans to close 23 stores, putting 520 jobs under threat, as part of a rescue plan. Under the proposal, Burton, Dorothy Perkins and Topshop stores will close and rents will be cut at another 194 stores at the Arcadia group. In return for the rent cuts, Sir Philip's wife, Lady Tina Green, who is the main shareholder of Arcadia, will invest £50m in the company. Sir Philip Green's brands used to dominate the high street. Last year, Sir Philip was embroiled in claims, which he strongly denied, of bullying and inappropriate behaviour.
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