// Baroness Karren Brady reveals why she left Taveta Investments, owner of Sir Philip Green’s Arcadia Group
// Brady left 2 weeks after Green was accused of alleged racist, physical & sexual abuse early last year
// Since her departure, Arcadia has lodged 7 CVAs to close 50 of its 2765 stores
Baroness Karren Brady has revealed the reason behind her resignation as non-executive chairman of Taveta Investments, the parent company of Sir Philip Green’s Arcadia Group last year.
Brady, who was urged by Women and Equalities Committee chair Maria Miller MP in February to reveal “what went under her watch” at Arcadia, said she quit the board of Taveta Investments after her principles “didn’t square” with the allegations against Green , Sky News reported.
Green, who at the centre of allegations from former Arcadia staff who accused him of racism, physical and sexual abuse early last year, denies all allegations.
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Following the allegations, Brady initially said she had a “sense of duty” towards employees of Green’s holding company and that “walking away” would have been the easy thing to do.
However, she resigned a fortnight later.
Brady admitted to remaining in contact with Green and added that Arcadia is a “very important” part of the retail sector, employing thousands of people.
Arcadia, which owns the likes of Topshop, Dorothy Perkins and Burton, has undergone a major restructuring which has led to store closures since Brady’s departure.
It launched seven CVAs to close 50 of its 2765 stores in June.
In December, Arcadia Group revealed it will be able to keep its Topshop and Topman flagship on London’s Oxford Circus after announcing that it had completed a £310 million refinancing of its mortgage.