Arcadia did not come close to collapse, says Sir Philip Green

Sir Philip Green has rejected suggestions that his Arcadia retail empire came close to collapse before a restructuring plan was clinched with regulators and landlords.

The Topshop billionaire suggested the company voluntary arrangements (CVAs) had comfortably cleared a vote by landlords and creditors on Wednesday, following speculation that the decision had been on a “knife-edge”.

The vote gave the go-ahead for the closure of 23 stores, putting 1,000 jobs at risk, while another 25 will be shuttered as part of a wider restructuring.

Landlords will also receive smaller amounts of rent…
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