A host of Britain’s biggest property owners have joined forces to demand a larger equity stake in Arcadia, should the fashion group push forward with a CVA.
The landlord group is poised to draft in advisory firm PJT Partners to handle discussions with the Sir Philip Green-owned group, Sky News reported.
As previously reported, Arcadia has already offered landlords a 10% equity stake in the group if they vote in favour of a potential CVA. But Retail Week understands landlords are seeking a “significantly larger” stake in the group. They also want Green to shell out more than the £50m he has committed to aid the restructuring of the business.
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