Jun 12, 2019

Topshop empire survival vote 'on a knife edge'

Landlords and other creditors will meet on Wednesday in London to vote on revised proposals to save Sir Philip Green's Arcadia retail empire. Last week, a vote on Sir Philip's proposals was postponed after some landlords, including shopping centre owner Intu, refused to back it. On 5 June, the vote was postponed after some landlords refused to back the deal. Ed Cooke, chief executive of retail property body Revo, says the vote is "Clearly on a knife edge", and the outcome is by no means certain. Sir Philip said the business would go into administration if the vote earlier this month didn't go well.

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