Topshop administrators pay Lady Tina Green £50m

The Green family’s Aldsworth Equity received the payout in May
// Topshop administrators Deloitte hand wife of Sir Philip Green, Lady Tina Green, a total of £50m
// This comes as pensioners and suppliers face a further wait to recover what they are owed

Topshop administrators have handed wife of former retail tycoon Sir Philip Green, Lady Tina Green, the amount of £50 million.

This comes as pensioners and smaller suppliers face a further wait to recover what they are owed by the collapsed chain.

The Green family’s Aldsworth Equity, incorporated in the British Virgin Islands and controlled by Lady Tina Green, received the payout in May.

READ MORE: Asos to make redundancies at Topshop

The money was lent to Topshop as part of an emergency restructuring in 2019 and secured against a former warehouse in Daventry, in Northamptonshire.

After Arcadia Group went into administration in November, the depot was sold for £83 million, according to new filings from administrators at Deloitte.

It is now being leased by Boohoo, the online retailer that bought Arcadia’s crown jewels.

Deloitte sold Topshop, Topman and Miss Selfridge to Asos and Burton, Wallis and Dorothy Perkins to Boohoo for £355 million earlier this year.

In February, it emerged that Arcadia collapsed with a pension deficit of £510 million.

An update is unlikely until a disposal of Topshop’s former flagship store on Oxford Circus is finalised.

The building, which was pledged as a security to the pension schemes, has a £300 million loan secured against it.

The sale process is currently being run by KPMG.

The pensions schemes have so far received £180 million, while Lady Tina has paid in full a £100 million contribution previously agreed with the pensions watchdog.

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  1. Shocking after 13000 people lost their jobs. OMG. They ruined a once second largest clothing retailer in the UK going back to 1903 and 1929 with Burton and DP and Evans also very old 1909 and Wallis from 1930’s and she gets money back after taking a £1bn dividend that led to the downfall of both BHS and Arcadia and a huge shortfall in pension which UK taxpayer coughs up. This is wrong to me.


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