Sep 12, 2019

Sir Philip Green's Topshop reports £500m loss

Sir Philip Green's Topshop and Topman fashion chains suffered an almost £500m net loss last year, amid tumbling sales and a raft of one-off charges. Its latest accounts showed a loss of £498.5m loss for 2018, compared with a loss of £15.6m in 2017. Kate Moss has twice worked with Sir Philip on Topshop lines, while Cara Delevingne, the model-turned-actress, became the face of the brand in 2014. Last week, the Arcadia group reported a smaller loss of £169.2m for 2018, suggesting some parts of Sir Philip's empire are offsetting the poor performance of others. Despite its rescue deal, Arcadia warned last week that it may need fresh funding to support its business.

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