Topshop owner Arcadia on brink of collapse

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They are some of the biggest brands on the high street and have been for years. (Subscribe: bit.ly/C4_News...)
But Topshop, Miss Selfridge, Dorothy Perkins and Burton could all soon vanish, as Sir Philip Green's Arcadia retail empire teeters on the edge of administration.
13,000 jobs are at risk in what would be the biggest retail failure of the coronavirus crisis.
MPs and unions have called for Sir Philip to use his personal fortune to plug a £350 million gap in the group's pension scheme, if the firm cannot be saved.
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Опубликовано:

20 окт 2024

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Комментарии : 105

@Ineedahandle75 3 года назад

Green is on his yacht. "oh Arcadia has just collapsed love. Open another bottle of Champagne will you"

@shanehull6235 3 года назад

His 100m yacht

@rjwlfc 3 года назад

@@shanehull6235 good for him eh

@DrumToTheBassWoop 3 года назад

@Vladimir Putin James Bond .

@DaBriars 3 года назад

If the company was losing so much money how was he able to pay his wife 1.2 billion in dividends My understanding is dividends are pay on the company profits ??

@Ineedahandle75 3 года назад

@Vladimir Putin Also known as 'Doing a Maxwell'

@VanlifewithAlan 3 года назад

The EU's attempt to stop this sort of offshore accounting led to Brexit.

@ABanRocks 3 года назад

UK makes huge amount if money using offshore accounts. Lot of the the rich around the world use it.

@VanlifewithAlan 3 года назад

@@chrisj9700 That is the case at present, yes. It is the attempt to stamp it out which led to Brexit as I wrote originally.

@noaniles8376 3 года назад

Lock him up

@roburtooo7938 3 года назад

I worked at topman for ages. We were online in 00’s so why people saying that was the issue is not true. The issue was the stores - and trying to keep the high street alive. Realistically he needed to rid the smaller stores and stick his flagships and more emphasis online. But too little too late

@tarscase7653 3 года назад

Good reporting as always

@thepolticalone961 3 года назад

This is a great interview

@ShoppingwithRina 3 года назад

Oh my gosh

@telbro3514 3 года назад

Couldn't happen to a nicer person what comes round goes round

@stevedoughty1941 3 года назад

Very sad, so many people looking for work.

@brianeduardo1234 3 года назад

Love that coat and scarf combo - looks super - one has to feel so sorry for the employees

@mrmark8603 3 года назад

He'll give himself a bonus, no doubt!

@neurojitsu 3 года назад

I literally just watched an interview with Elon Musk over on the WSJ RU-vid channel, and what a breath of fresh air he always is to listen to. If Green had spent less time lining his pockets, sitting on his superyacht and counting his money perhaps he could (though he is clearly not that way inclined) have followed Musk's advice and spent more time in his stores, with his customers and working on his product. It's tragic that the people that will pay the personal price are all the swathes of former employees he'll soon have... whilst he retreats to that yacht. Shameful.

@naureen4justice991 3 года назад

The rich get richer and the poor get poorer.

@arrongoldberg697 3 года назад

Discover America LOL

@ABanRocks 3 года назад

The government really needs to stop Amazon like increase VAT on online sales. This is just the start if something isn't done soon.

@mikeward1701 3 года назад

My sympathies to the staff but not to the businesses! Yet another case of insufficient investment and too slow to adapt to changing trends! Maybe Sir Philip shouldn’t have siphoned off that £1.2bn dividend to his wife, and maybe he should get out his chequebook before expecting other people to!

@momurda6 3 года назад

What happens when a successful business has its capital sucked dry by its owners, poor management and no progress to compete with competitors trends. Green needs to face prison, and Heavy fines, money which goes back to the employees.

@DaBriars 3 года назад

He won’t go to prison he’s part of the elite Boris will sort him out

@michaelrch 3 года назад

Myners putting the boot in 😂 Greene is the perfect example of why neoliberal capitalism truly sucks. Shysters getting obscenely rich of the hard word of thousands of hard up working people 🤮

@ABanRocks 3 года назад

It is the peoples fault for buying online mainly from Amazon and the government fault for not helping the high street. All these stops are closing.

@michaelrch 3 года назад

@@ABanRocks I guess you didn't listen to the interview where Myners described how Greene has been asset stripping the business all along. He has run the business to extract as much value for himself, hasn't invested and has left his staff high and dry. It's allowed in law, but it's brutal to staff who now don't even have secure pensions. I have no idea why you would make excuses for such selfish and greedy behaviour...

@baldeepbirak 3 года назад

Green will enjoy his wealth. The staff will suffer. Until more is done to stop bad business proactices and remove these knighthoods then they will keep doing the same again.

@nareshghale1430 3 года назад

Guess they are not a top shop anymore 🧐

@johnvaleanbaily4859 3 года назад

So... pension fraud then.

@Greenpoloboy3 3 года назад

On the brink and its going to go over...

@mrsmith9031 3 года назад

I hop Debenhams will be saved,

@ApriliaRacer14 3 года назад

And by collapse they mean move from the Master Suite on the multimillion dollar yacht to the Guest Suite on the multimillion dollar yacht.

@shuweb 3 года назад

Evolve or die

@yanikeonpurpose 3 года назад

💯... The theme tune for 2020 & beyond 🚀

@sharonmullins1957 3 года назад

Green has costs so many people their income. But being the old white rich man, he will find a way again, to continue to live large. Not the 1st time he ruined lives.

@christopherseton-smith7404 3 года назад

And that damn yacht is worth?

@marvintpandroid2213 3 года назад

A day before the Tax rules change.... hummmm.

@mrhat50 3 месяца назад

Topsteal

@곽한정-i6z 3 года назад

아카디아 그룹 부도 위기 500개 매장 폐쇄 12000명 실직

@leedavis6000 3 года назад

That pension money is gone. As it’s being used as fuel money for his yacht.

@elisa7881 3 года назад

FCS, think of the employees people!

@shanehull6235 3 года назад

The employees were taken advantage of by the owner the best thing they can do is find work else where and best we can do for those people is not bail out this billionaire that can’t run a business and put them in this position

@billmilligan1705 3 года назад

A prepack administration is on the cards

@ninetalesxyo8842 3 года назад

Stopped buying Topshop - like 8 years ago! I wonder why I did that

@thepolticalone961 3 года назад

Why

@williammarshalknight1846 3 года назад

Because you never bought them you middle class whopper stop telling lies

@cinderball1135 3 года назад

@@williammarshalknight1846 Good grief, such hostility, so little reason.

@williammarshalknight1846 3 года назад

@@cinderball1135 are you on glue or a #fullpaywanker

@cinderball1135 3 года назад

@@williammarshalknight1846 Making something a hashtag doesn't make it true.

@Greenpoloboy3 3 года назад

A gofundme page needs to be set up for Philip Green

@arrongoldberg697 3 года назад

£50m he keep in back pocket. Ashley offer him help LOL soon Ashley will need help.

@sarahduhay5150 3 года назад

"Not investing new money". Methinks he knows exactly what he is doing by not putting money in to prop up these businesses for some reason.

@drewpriestley7148 3 года назад

There should be a Christmas dishonours list, he is not a sir🙁

@jgb1748 3 года назад

... Revelation 14: 6,7...

@mayfieldnorris4280 3 года назад

Another Zombie retail store gone

@thedukeabides473 3 года назад

eat the rich

@francinerosie2631 3 года назад

He only has to look at a shop to take over and Bang it goes Bust. He knows nothing about running a business. Only wiping it out

@emmabrooker166 3 года назад

No more Top Tat? oh no whatever will I do Sorry for the employees tho, more meat to be processed by the DWP rusty grinder

@euroantifa7517 3 года назад

he’ll be ok. he took out £1.2b in dividends recently. and his tory mates have written to ASK him to fill the £350M hole in his pension scheme. embezzler.

@jpw6893 3 года назад

It was his wife and he did give £350 million. Where do you shop? Amazon??

@cupguin 3 года назад

@@jpw6893 Bezos just committed to donating $10b this year which, while not putting a dent in how much cash he has, is still better than looting your company then refusing to use that looted cash made by your workers to keep them employed until Christmas in the middle of a pandemic!

@jpw6893 3 года назад

@@cupguin a fraction of what he has earned bankrupting small businesses.

@jimjoerobinson 3 года назад

Abolish capitalism.

@ivanhekli9031 3 года назад

TopShop😂🤣👍👍

@johnnewman1975 3 года назад

This Knighthood system for a spiv Like this GEEZER should be abolished we no longer have king Arthur and the round table so antiquated it's a reward for failure A total JOKE

@DrumToTheBassWoop 3 года назад

Ernst Phillip Green: “Ahh, Mr Bond, let me show you my evil plan” 007: “ you’ll never get away with this Green” Ernst Phillip Green: “I already plundered the pension pots, now I plan to destroy 13,000 lives, mwhahah”

@luthfurrahman7890 3 года назад

This d******** needs to have sir removed along with held responsible for employees job losses .

@mandoist 3 года назад

This is how billionaires survive The Brexit... by making the government pay their way back in 2021 !!

@jesusdied2setu3amen77 3 года назад

Phil the conman

@hughjames3647 3 года назад

Boris has single handedly plunged the economy into oblivion

@emmabrooker166 3 года назад

Hugh James No. This has always been Green's end-stage hyperneoliberalism plan. He deliberately chose not to modernise and adapt to hold on to market share.

@Boycott_China 3 года назад

Every country on earth - especially the UK - should boycott ALL Chinese companies and products because of what they have done to the world this year and the way they have behaved (lies, deceit, coverups, Covid-19, attacking India, behaviour towards Hong Kong, threats to many countries, stealing copyrighted material, stealing jobs etc etc etc etc)