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

  • David Allen
    The case for higher taxes is blatantly clear, unless you are a politician seeking votes. Everything in Britain - the NHS, the courts, the prisons, defence, and...
  • FS People
    @ Mick Taylor “The whole thrust of our complex and bewildering tax code IS to protect the rich. ” But it is not. We actually tax high earners more as a pr...
  • FS People
    The defences of the triple lock are just bizarre. @Mick Taylor “You propose making that worse by stopping uprating pensions.” That is not what was sai...
  • Pawel Urbanski
    I agree that capacity is the problem, but I think we might be fixing the wrong end of it first. Right now thousands of affordable homes are going up under pl...
  • Jana
    My memory of being brought up in a council house was that ordinary working people lived in council houses and wealthy people lived in private houses. Today, the...