Luxurious LifeStyle – Philip Inexperienced plans Christmas getaway on £30,000-a-night island as 15,000 workers face axe
With as much as 15,000 Acadia workers dealing with a bleak Christmas because the agency hurtles in direction of collapse, their tycoon boss Sir Philip Inexperienced clearly has no such worries.
The 68-year-old is planning to move for a festive break at an unique Indian Ocean resort within the sunny Maldives.
His journey to the lap of luxurious will little question spark fury amongst staff at his retail empire, which incorporates TopShop, Dorothy Perkins and Miss Selfridge, because it may very well be plunged into administration – probably as early as subsequent week.
Whereas they worry an unsure future, Inexperienced – who owned division retailer BHS earlier than it collapsed in a scandal – can be sunning himself on the One & Solely Reethi Rah resort, the place some villas value £30,000 an evening.
Former BHS employee Lin MacMillan mentioned: “This will go down like a lead balloon with Arcadia staff. It’s like sticking two fingers up at them.”
One other, Hannah Cullen, added: “It’s simply typical of him, he doesn’t care. It’s so insensitive when his staff may very well be left looking for one other job in retail, when there are hardly any round.
“He has no grip of actuality, he lives in a bubble.”
Inexperienced didn’t reply to calls from the Mirror yesterday.
However Arcadia mentioned the coronavirus disaster and lockdowns had put it on the point of collapse.
A press release added: “The pressured closure of our shops for sustained intervals on account of the Covid-19 pandemic has had a fabric influence on buying and selling throughout our companies.
“As a result, the Arcadia boards have been working on a number of contingency options to secure the future of the group’s brands.”
Though branches closed within the newest lockdown will reopen subsequent week, there are fears for the way forward for workers within the run-up to Christmas.
And figuring out Inexperienced is having fun with a luxurious festive break whereas staff fear how you can pay the lease and feed households if the empire collapses will come as a bitter blow.
Friends at Reethi Rah have the choice of arriving by seaplane.
They’ll select from 37 villas with non-public swimming pools, stroll the island’s 12 talcum powder seashores, be pampered in its huge spa, waited on by workers sporting designer sun shades, or store within the resort’s boutique stocked with designer gear by Christian Louboutin.
Earlier A-list friends embody Chelsea soccer membership proprietor Roman Abramovich and Hollywood stars Tom Cruise and Russell Crowe.
David Beckham and chef Gordon Ramsay and their households are mentioned to have despatched a number of New Yr breaks collectively on the resort.
The Beckhams as soon as reportedly splashed out £250,000 on an 11-night festive keep.
Fifth Factor star Milla Jovovich described it as “beyond amazing”.
The collapse of Acadia, if it occurs, will herald the break-up of Inexperienced’s retail empire and convey the curtain on controversial profession crashing down.
As soon as lauded because the King of the Excessive Street, he constructed the enterprise by a collection of big-bucks buyouts and as soon as tried to amass Marks & Spencer.
In 2005, Arcadia paid a document £1.2billion to Inexperienced’s spouse Woman Tina, 71, in Monaco.
It afforded the household a luxurious life-style which included a £100million superyacht The Lionheart.
At one time, the enterprise titan counted Leonardo DiCaprio, Naomi Campbell and Simon Cowell amongst his celeb pals.
Inexperienced has been pictured at numerous occasions together with his arms draped across the likes of Liz Hurley, Kate Moss, Beyonce and Cara Delevingne.
He commuted to London by non-public jet from his dwelling in Monaco and stayed in his personal suite at The Dorchester lodge in Mayfair, Central London.
However his fame was shattered by the BHS scandal.
The struggling retailer was bought to former bankrupt Dominic Chappell for £1 in 2015.
It collapsed a yr later, leaving a giant gap within the BHS pension fund and triggering 11,000 job losses.
Inexperienced, amid calls to be stripped of his knighthood, later paid £363million into the fund.
He was additionally accused of subjecting workers to racist and sexist bullying, however has denied all wrongdoing.
Regardless of his colossal wealth, Arcadia has taken taxpayers’ cash for furloughed staff’ wages and a enterprise charges tax break for pandemic-hit corporations.
Deloitte is claimed to have been lined up as directors, tasked with promoting off components of Arcadia, which additionally embody Evans, Burton and Wallis.
Any cash raised would assist sort out a shortfall in Arcadia’s pension fund.
Pension knowledgeable John Ralfe estimated the deficit at £350million however mentioned Sir Philip is not going to be liable.
He added: “The legal case to pursue him would be very weak.”
It dangers fund members ending up with much less to stay on in retirement.
Former MP Frank Area, who led an inquiry into the BHS scandal, insisted Inexperienced ought to “cough up” for any shortfall.
He branded him “a flash boy who didn’t do good” and added: “His golden touch has turned to ashes for workers and pensioners.”
Retail knowledgeable Richard Hyman mentioned of Arcadia: “The writing has been on the wall for quite some time. Sir Philip has pulled a few rabbits out of the hat to kick the can down the road.”
Inexperienced misplaced his billionaire standing on this yr’s Sunday Occasions Richlist, which nonetheless put him and his spouse’s wealth at £930million.
He has additionally invested closely in property.
Daughter Chloe, 29, is claimed to be worth £90million.