Rolling coverage of the latest economic and financial news
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Arcadia is on the brink of becoming the biggest corporate casualty of Britain’s Covid-19 crisis. Sir Philip Green’s retail group is expected to filed for administration as soon as today, having failed to agree a rescue deal to keep the company afloat.
This is obviously a sad day, we tried to save it a year ago when £200m was put into the business and the pension fund, but it’s impossible to operate now.
“You don’t know when you’ll be open, you don’t know what stock to buy.”