Philip Green is trying to quietly vacate one in 10 of his high-street stores before launching a controversial restructuring of his Arcadia fashion empire.
The embattled billionaire is working on a plan that will enable his retail group, which includes Topshop and Dorothy Perkins, to close its worst-performing outlets and slash rent costs.
On Thursday, it emerged that a list of 67 of the more desirable stores within Arcadias 570-strong network is currently being shared in property circles to see if rival chains can be persuaded to take over the leases.
Included in the document, seen by the Financial Times, were branches of Topshop, Dorothy Perkins and Miss Selfridge in well-known shopping centres, such as the MetroCentre in Gateshead, as…
Read the full article at: https://www.theguardian.com/business/2019/mar/28/philip-green-quietly-tries-to-vacate-stores-ahead-of-arcadia-restructure