Green seeks to restructure Arcadia after Covid hit

Sir Philip Green aims to overhaul his Arcadia fashion empire

Fashion tycoon Sir Philip Green is to overhaul his Arcadia fashion empire for the second time in little more than a year because of the impact of the coronavirus pandemic.

As part of the emergency measures the controversial retailer, whose Arcadia stable includes Topshop, Dorothy Perkins and Burton, has presented cost-cutting proposals to The Pensions Regulator, The Sunday Times reported.

The regulator’s approval is vital because of a £727m deficit in Arcadia’s pension funds.

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