It was being suggested that Sir Philip Green is engaged in talks with a potential buyer for the Arcadia Group. With falling sales and the loss of many of its senior team members, Arcadia has lost its lustre over recent years with the BHS debacle casting a long shadow over what had been a successful retail business. A large question mark still hangs over the future of Arcadia’s pension funds and their deficits, meaning that any sale would come under intense scrutiny.
A recent report in the Sunday Times identified a Chinese textiles business Shandong Ruyi as a prospective buyer. The Chinese firm has been steadily acquiring majority stakes in a number of European fashion and footwear brands. However, Sir Philip Green has vehemently denied that there are any plans to sell the business which operates 2800 stores and employs around 26000 staff, mostly for its Topshop and Topman chains.
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