Sources close to Sir Philip said he had ordered the U-turn after learning of the details of the proposed pay cut early yesterday. Since July, companies have been required by law to pay full pre-coronavirus salaries to those who have been made redundant and who are serving a statutory notice period. Arcadia seized on the loophole to pay these staff according to their furlough – and not their pre-crisis – rates of pay. A senior employee earning £100,000 would, for example, normally have been paid a full monthly salary of £5,553 during their notice period, but would have received just £2,777 under the ditched plan. But in a sign of the residual anger, the source said Sir Philip, 68, should lose his knighthood.

Source: Daily Mail September 12, 2020 22:14 UTC