DOOM: Topshop owner’s collapse is 'inevitable' DOOM: Topshop owner’s collapse is 'inevitable'
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  1. #1

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    Default DOOM: Topshop owner’s collapse is 'inevitable'

    "Sir Philip Green's failure to invest in his retail empire Arcadia has made its downfall "inevitable", a former boss of its best-known brand Topshop has said.

    Arcadia, which includes Topshop, Burton and Dorothy Perkins, is facing collapse putting 13,000 jobs at risk.

    Jane Shepherdson CBE, credited with turning Topshop into a global brand, said she expected an online retailer to buy the brand and close most stores.

    Arcadia had been seeking extra cash following lost sales amid the pandemic.

    But Ms Shepherdson, who ran Topshop until 2006, said that its problems went back much further than the coronavirus outbreak.

    She said Sir Philip had ignored the rise of online shopping, and was now lumbered with a large and expensive store estate which was largely shut due to Covid. "

    Source: Topshop owner’s collapse is '''inevitable''' - BBC News

    ATWs comment: it's not the job of businesses to provide pension schemes (unless it's pension scheme busines, obivously), it's not the first company that is getting dragged down by massive pension deficits for something that should not have been their responsibioity in the first place. And then you have feckers like "Sir" Green who'd exploit the system and later walk away from collapse.

  2. #2

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    Old Greg is always on top

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    Phil will be able to get a clearance Top Man suit for his next court appearance.

  3. #3

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    Maybe taking £1.2 billion out as a dividend to the owners and starving the group of investment (including technology) over many years wasn't such a good idea after all?

  4. #4

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    Quote Originally Posted by edison View Post
    Maybe taking £1.2 billion out as a dividend to the owners and starving the group of investment (including technology) over many years wasn't such a good idea after all?
    It was a great idea for Mr Green - first he (via his wife who was in Monaco so no divi taxes) gets a lot of dosh and secondly he's got Knighthood because he was such a successful retail businessman (as evidenced by £1.2 bln divis), win win for Mr Green!

  5. #5

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    Eirikur - scorchio!

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