Sir Philip Green's retail empire Arcadia, which includes Topshop, Burton and Dorothy Perkins, is understood to be on the brink of collapse. Sir Philip had been in talks with potential lenders about borrowing £30m to help the business through Christmas. However, these talks have failed and administrators could be appointed on Monday, putting 13,000 jobs at risk. Arcadia said it was working on "contingency options". Arcadia admitted that the coronavirus had had "a material impact on trading across our businesses". However, even before the pandemic, Arcadia's best-known names - like Topshop - were struggling against nimbler online-only fashion retailers like Asos, Boohoo and Pretty Little Thing. With his Arcadia retail empire teetering on the brink of collapse, it is the latest saga in a colourful career that once saw him branded as the "unacceptable face of capitalism".
