Sir Philip Green and directors of his Arcadia retail empire will today discuss its future amid a crisis on the High Street.
The Topshop tycoon, 67, is plotting a major overhaul of Arcadia’s portfolio, which is expected to involve the closure of around 50 shops.
A decision could be made as early as tomorrow on whether to proceed with the proposals, known as a company voluntary arrangement.
Arcadia – which owns Topshop, Dorothy Perkins, Miss Selfridge, Burton, Evans and Wallis – will need the support of landlords, pension trustees and other stakeholders in order to push through the shake-up.
If Green fails to secure their support, a sale of the company is expected to be launched within weeks.
