As well as De Vere Group, Mr Coppel ran the hotel chain Queens Moat Houses and has held board seats at the Jockey Club and the entrepreneur Duncan Bannatyne's leisure group.
Under the deal, the tycoon's wife, Lady Tina Green, agreed to inject £175m into the group's pension scheme over a three-year period, with security over a further £210m of assets also being granted to it. It has been a tumultuous period for Sir Philip, who for years was feted as the king of the high street by politicians and the media but who has struggled to recover his poise since the collapse in 2016 of BHS.
The scale of the challenge facing Sir Philip as he tries to save Arcadia was underlined in September when it reported a £170m full-year loss.
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