Tag Archives: high street business

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

  • Tim
    Hywel - I doubt Norwegian gas will be lower carbon than Jackdaw. It is the case (as that report showed) that the remnants of old UK gas fields are (slightly) hi...
  • Simon Robinson
    I do think kindness is a good quality, and we need more of it in politics, but attaching 'kindness' to particular policies is more complex than I think you ackn...
  • Peter Davies
    213 votes across 5 seats. Hard to see a positive here....
  • cim
    "And we are witnessing in Britain illiberal movements on the left and the right, with Farage as a pluto-populist (a politician financed by the ultra-wealthy who...
  • Hywel
    @Tim - Yes I saw the source and looked at it though it didn't make a lot of sense given my level of knowledge of this. But taking that as correct I was curio...