Philip Green Bought A Topshop25% Stake For A Pound.

The British Sky News and the times and many other media confirmed that the US private equity fund Leonard Green & Partners LP (referred to as LGP) sold $1, or 0.76 pence, to Philip Green Philip Green for its Topshop/Topman Limited (TSTM) 25% shares, and in 2012, it paid 350 million pounds, or about 500 million dollars, for the stake.

Coincidentally, in early 2015, Philip Green, the richest British fashion industry, also sold BHS department store for 1 pounds, while the purchase price in 2000 was 200 million pounds.

Such a low paction price is, of course, symbolic. It usually means that the operation of the target company is facing great difficulties and may soon be bankrupt.

BHS was declared bankrupt one year after being sold by Philip Green, and became a huge scandal in British Retail history, because BHS has a huge pension deficit.

In the end, Philip Green settled the matter with a settlement of 363 million, thereby avoiding a three fold penalty of 1 billion 50 million pounds.

Today, a similar situation of "Nurturing" on its own, the Philip Green family controlled British retail giant Arcadia Group Ltd. is also inevitably facing bankruptcy crisis, it is reported that the company may apply for CVA in the next few weeks, the latter is a unique bankruptcy reorganization mechanism of British enterprises, through the closing of stores, rent reduction, debt restructuring and other means of corporate restructuring.

For a symbolic sale of TSTM shares of $1, LGP said in a statement that equity pfer simplifies the structure of TSTM shareholders, so that the board of directors of Arcadia Group Ltd. of brand parent company can focus on weighing the restructuring plan, and the private equity fund will not rule out the purchase of the shares again.

LGP's statement has been interpreted as an official statement. The private equity fund has been badly bruised in the investment of TSTM and J. Crew Group Inc. two fashion groups. It has been the two largest fashion brand group in the UK and the United States. It has been on the verge of bankruptcy in the past three years.

In 2011, LGP joined another well-known investment institution, TPG Capital LP, to acquire J. Crew Group Inc. with leverage of $3 billion.

The plight of Arcadia Group Ltd. is also the reason why LGP is willing to give up the group's most important asset brand at almost zero price.

In the case of BHS's pension deficit, The Pensions Regulator, a British pensioner that has been rebuked by the British Labour Party, is now facing more pressure because Arcadia Group Ltd. is also trying to cut down on old investment, implying that the plan to increase pensions provision has become an empty talk.

Two years ago, Philip Green put the annual pension of Arcadia Group Ltd. in the next ten years from 25 million pounds to 50 million pounds on the cusp of bankruptcy in BHS department store, and now he plans to cut it to 25 million pounds again.

The Committee on employment and retirement in the British Parliament condemned this week. The chairman of the committee, Frank Field, bombed Philip Green to reapply the old technology used to BHS department store. After he broke the business, he left the remaining cash and left.

According to the committee's report, under the premise of continuing operation, the Arcadia Group Ltd. last year's pension deficit amounted to 727 million pounds, and the actuarial approach deficit was 530 million.

Arcadia Group Ltd. is currently actively preparing for CVA restructuring. Philip Green has hired Deloitte DDT's former partner, Jamie DrummondSmith, as chairman of the interim Board of Arcadia Group Ltd. and its holding company, Taveta Philip Green, to fill the post of chairman of the board of directors who resigned in February because of the sexual harassment and racial discrimination scandal.

Peter Bloxham and Jamie Smith joined the TSTM board at the same time. The two said that at this stage, the board of directors will focus on creating a stable platform for the group so as to carry out the reorganization plan.