Tag Archives: Arcadia Group

Nigel Lindsay

Philip Green and bad business – Lib Dems must act firmly

By Nigel Lindsay | Wed 2nd December 2020 - 9:00 am

The collapse of Philip Green’s retail empire, Arcadia is a sad case of history repeating itself. It is only 4.5 years since BHS went into administration, and whilst Green was no longer the owner then, having sold it for £1 in 2015 to the serial bankrupt Dominic Chappell, it was under Green’s ownership in the previous 15 years that the under-investment and plundering of profits led to the situation where the chain was no longer viable.

Retail analysts are commenting that a similar set of circumstances mean Arcadia is now not fit for purpose. The shops look tired, and there has been a failure to embrace online technology at a time when going to physical shops is difficult for many customers. Additionally, Green is reputed to have taken huge dividends out of Arcadia – £1.2billion in 2005, all of which is safely secured in his wife’s name in the tax haven of Monaco.

Continue reading »
Posted in News | Also tagged , and | 28 Comments
Advert

Recent Comments

  • PM
    " ‘Full-on Rejoin’ could boost our anaemic growth by reversing the 6% hit on GDP caused by Brexit." The 6% works out as approximately 1% for e...
  • Nick Hopkinson
    Labour has yet to steal our pro-European clothes. They remain committed to their Brexit red lines - the leadership has advocated a clear Growth and Defence Part...
  • expats
    @David Allen 12th Nov '26 - 5:37pm............The senior partner in a coalition can usually completely screw the junior partner, as Cameron did to Clegg...........
  • Chloe
    The volatility of US politics in the mid terms. Obama lost 63 in 2010 - an historic high & Clinton lost 54 in the 90's - both went in to win the presidency ...
  • Jana
    It is amazing how things change in US politics. It was a Republican President - Abraham Lincoln - who set about ending slavery in the USA, fiercely opposed by D...