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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