Sir Philip Green’s Arcadia has refinanced the £310m loan on its flagship Topshop store on London’s Oxford Street.
The fashion group has struck a deal over a four-year loan from US investment giant Apollo ahead of a deadline that was looming at the end of the year.
The Apollo debt will be secured against the property that houses the Topshop flagship and Niketown.
Last month, it emerged that Arcadia was scurrying to pay back the loan before Christmas and was in talks with specialist lenders to refinance the £310m mortgage.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.