Sir Philip Green’s Arcadia, with brands including Topshop, has taken tens of millions in government handoutsSir Philip Green’s retail empire is exploiting furlough rules to cut pay while taking tens of millions in government handouts, leaked documents show. An executive at Arcadia Group told staff that it needed to take “every penny we can get” of public money. The company owns several high-street fashion brands including Topshop and has accepted tens of millions of pounds to pay furloughed staff. The money is part of a government scheme designed to protect jobs and Arcadia has indicated to staff that it intends to claim £3 million more from £1,000-a-head retention bonuses in January. It has made 300 staff redundant at its head office and used a loophole in government rules to pay them at reduced rates during their notice period.

Source: The Times September 11, 2020 23:05 UTC