Great Britain

Debenhams under threat from imminent collapse of Sir Philip Green’s Arcadia empire

RETAIL PAIN

DEBENHAMS is under threat from the imminent collapse of Sir Philip Green’s Arcadia empire.

Several Arcadia brands have outlets within Debenhams stores — so JD Sports is said to be backing away from a rescue deal for the department store chain.

It could lead to Debenhams, which employs 12,000 staff across 124 stores, being liquidated.

Specialist firm Hilco is lined up to handle a potential winding-down.

It could push Debenhams into the hands of Sports Direct tycoon Mike Ashley, who has made a series of bids.

Arcadia could go into administration today if a rescue deal is not found.

Mr Ashley offered a £50million emergency loan on Saturday but fierce rival Sir Philip dismissed it as “a non-starter”.

He has been relaxing on the deck of his £100million yacht in millionaires’ paradise Monaco.

Sir Philip Green’s TopShop empire facing collapse within days

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