Reuters Staff1 Min ReadFILE PHOTO: Manequins are seen in the window of a Topshop store in Liverpool, Britain, November 27, 2020. REUTERS/Phil Noble/File PhotoLONDON (Reuters) - Frasers Group, owned by billionaire retail boss Mike Ashley, has offered Philip Green’s troubled Topshop retail group Arcadia a 50 million pound emergency loan, reported Sky News on Saturday.
Arcadia could collapse into administration within days according to media reports, putting 15,000 jobs at risk in what would be Britain’s biggest corporate failure of the pandemic.Sky News said on Saturday that Frasers Group had drawn up plans to provide a loan to Arcadia to help save jobs at the group.
Reporting by Sarah Young; Editing by Kirsten Donovan Read more: Reuters Top News »
I am sure Mike Ashley has done that out of the goodness of his heart .. Not ! He will be in to buy at a knock down price. They will be filing for bankruptcy thanks to democrat policies I bet it was instigated by Niles. Philip Green is worth $2.2 BILLION Why can't he check the back of the sofa on his yacht to find this money.
NOOOOOOO COMPANIES NEED TO STOP LOANING MONEY TO OWNERS THAT THEY WILL NEVER PAY BACK THEY CANT BE THAT FUCKING STUBBORN TO GET RID OF THERE PERSONAL ASSETS, THAT ALSO DOESN’T SOLVE THE PROBLEM OF REVENUE. YOU SAVE THE JOBS BUT WHERE ARE THE CUSTOMERS GOING TO COME FROM.