How the other half live..29 Nov 2020 14:30
Laura Ashley, Debenhams, Kidson, Monsoon, TM Lewin, Pea****s and now Arcadia and I know I shouldn't say it but I dont give a toss about Arcadias collapse mainly because I couldn't stand the jumped up rag'n bone lout from Monaco. He of the s****y Crystal parties, £100m yacht and leering presence at catwalk shows has gotten his come-uppance at long last. The est 15,000 employees of Arcadia face a bleak future not only job wise but also a £350m pension black hole which the barrow boy refused to top up. They I do feel sorry for.
Nothing more than a braggart wheeler'dealer made good, he traded his cheap wares from the Croydon back streets to the glitzier end of Oxford St. I talk of Phillip Green the £1•2bn dividend paying man who more than anything wanted to be recognised in the pantheon of Retailing greats like Charles Clore and Marks & Sief.
In truth he was a poor 4th Division player, made awful business decisions, hanging on to BHS for too long and starving Top Shop of funds to meet the new digital frontier. No doubt he was good at pulling off deals but vision and battling against adverse conditions he was next to useless delegating to underlings without adequate management experience to "sort it aaht naa." Don't expect he's much bothered about the loss of jobs at Arcadia after all he's worth north of £900m, or is it his Missus Tina who really controls the purse strings?
Other shopping Malls have fallen into receivership and Hammerson and Trafford will be fearing their tenants will be unable to meet rents, rates & debts just as Green has sought protection from a Govt imposed moratorium on the right of landlords to evict tenants.
Sign In
Follow the stocks
