Shamed Topshop boss Philip Green smiles in the sun in £100m superyacht in Monaco – as 500 shop staff face axe
A SMILING Philip Green has been spotted sunning himself on his £100million superyacht – after news that 500 of his staff face losing their jobs. The Topshop boss, 67, relaxed with a bevy of bikini-clad women on the boat in Monaco. It comes after it was revealed that Green’s Arcadia Group plans to shut dozens […]
A SMILING Philip Green has been spotted sunning himself on his £100million superyacht – after news that 500 of his staff face losing their jobs.
The Topshop boss, 67, relaxed with a bevy of bikini-clad women on the boat in Monaco.
It comes after it was revealed that Green’s Arcadia Group plans to shut dozens of stores, including branches of Topshop, Burton, Miss Selfridge and Evans stores.
But the news appeared to be the last thing on his mind as he soaked up the sun on the luxury break this weekend.
The Brit billionaire donned grey sweatpants and a matching top as he took a dingy out to the yacht.
Also onboard was nightclub owner Richie Akiva, who runs the famous 1 OAK in New York.
The group were enjoying a get together before a Grand Prix party, which will be thrown by Green tonight.
STORES TO SHUT
On Thursday Arcadia confirmed it was planning on closing 23 stores which put 520 jobs at risk.
And yesterday it was announced that 25 more stores will be shut, bringing the total of jobs at risk to 1,020.
Shops earmarked for closure include those belonging to popular high street brands such as Dorothy Perkins, Burton, Topshop and Topman.
Six Miss Selfridge shops are set to shut.
The retail group’s proposals will also see rent cut at another 194 outlets.
The company is using Company Voluntary Arrangements (CVAs) in a bid to save the retail empire – but stakeholders will have to agree on plans first.
1,000 JOBS AT RISK
Sleazy tycoon Green is estimated to have lost his billionaire status with his fortune believed to have halved in a year amid a series of explosive scandals.
The Sunday Times Rich List has his fortune free-falling £1.05billion in a year to £950million because of a pension black hole in his “crumbling” Arcadia empire.
But the plummet still places Sir Philip and wife Tina at 156th on the list, down from joint 66th some 12 months earlier.
It comes after sustained criticism against Sir Philip and calls for him to lose his knighthood.
He was lambasted over the collapse of BHS, affecting 11,000 jobs, 19,000 pension holders and leaving a £571million in the pension scheme.
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The businessman, who sold the department store chain to Dominic Chappell for £1 before it plunged into administration, agreed to pay £363million towards the deficit.
Sir Philip has also faced a slew of allegations, including of groping a female executive and making a racial slur at an employee.
The Croydon-born entrepreneur denied his behaviour was criminal or amounted to gross misconduct.
