Mike Ashley has reportedly offered a £50 million lifeline to keep the Arcadia Group, which is responsible for Topshop, Burton and Dorothy Perkins, afloat.
Mr Ashley’s Frasers Group is set to offer the emergency loan as the retail empire prepares to appoint administrators, Sky News reports.
An industry source has described the collapse of Arcadia, owned by Sir Philip Green, as ‘inevitable’ following a failed bid to secure a £30 million loan. It places the group’s 13,000 workforce at risk.
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